PKO Bank Polski has granted an investment loan of €186 million to EPP for the refinancing of two assets, the Galeria Echo shopping centre in Kielce and the O3 Business Campus in Kraków.

Atenor became the new owner of a Warsaw office complex comprising 2 office buildings with a total area of approx. 32 000 sqm, located in Mokotow. This is the first acquisition completed by the company on the Polish market.

Office supply on the Tricity market keeps breaking new records with the average annual growth at 9% for the last five years. Tricity is currently Poland’s third-largest regional office market (excluding Warsaw) and continues to strengthen its position, according to Cresa’s report.

The record-breaking era of the Polish retail sector is over now. The market is shaped by limited supply, increased competition, the growth of e-commerce and the aftereffects of the ban on Sunday trading. As pointed out by experts at BNP Paribas Real Estate Poland, in H1 2018 developers operating on the Polish market completed and delivered approx. 191 000 sqm of modern retail space, out of which 110 000 sqm appeared on the market between April and June. As expected, further 300 000 sqm of new supply will be delivered by the end of the year.

Krakow retains the crown as Poland’s largest regional office market as it saw its office stock rise by 17% in the past year to 1.16 million sqm, says real estate advisory firm Cresa in its latest report.

At the end of H1 2018, there was more than 2.13 million sqm of warehouse and industrial space under construction across Poland with Central Poland accounting for more than one-fourth of the development pipeline, according to Cresa. Despite the healthy supply, the vacancy rate will remain below 5% this year and is likely to edge down to approximately 4% next year on account of a base effect and the expected robust occupier demand.

Atrium European Real Estate Limited has signed an agreement to acquire Wars Sawa Junior, a prime retail asset located in the heart of Warsaw and in its most prominent high street retail area, for a consideration of €301.5 million. Atrium is to acquire Wars Sawa Junior from PFCEE, a fund managed by CBRE Global Investors, using a mixture of existing cash resources and external financing.

More than 180,000 sqm of retail space was added to the Polish retail market in H1 2018 and another 330,000 sqm is expected to be completed by year-end 2018. This will represent an increase of over 25% year-on-year, bringing Poland’s total retail stock to more than 14,800,000 sqm. The new supply will be concentrated in cities with fewer than 100,000 inhabitants, accounting for 40% of this year’s openings. Cushman & Wakefield has published another edition of its MarketBeat report.

In H1 2018, demand on Poland’s industrial market was 2 million sqm - this is the best ever result recorded in the market’s history. In addition, industrial stock in Poland has now exceeded 14 million sqm, according to JLL.

The overall European logistics yield dropped 14bps to 5.95% in Q2 2018, the first time it has fallen below 6% since Cushman & Wakefield began consistently tracking the three main property sectors in 1992, according to the firm’s DNA of Real Estate report.