Czech Republic leads the CEE region in H1 2015 with €1.2 bn of finalized investment transactions, followed by Poland with a total volume of €813 mln, according to a new report from JLL.
Czech Republic leads the CEE region in H1 2015 with €1.2 bn of finalized investment transactions, followed by Poland with a total volume of €813 mln, according to a new report from JLL.
The total real estate investment volumes over the period reached approximately €2.55 bn in the region, the advisor said.
'As the prime European real estate markets returns become increasingly tight, other investment locations look more attractive,' noted Troy Javaher, Regional Director, Head of CEE Investment at JLL.
While the main focus so far has been on Poland and the Czech Republic, other CEE capital cities along with Poland’s regional markets will also be highly sought after, Javaher predicted. 'The weight of international capital seeking core CEE opportunities has provided increased liquidity for large lot-size properties and portfolios. In addition, attractive and more easily attainable financing has widened the pool of investors who are able to offer more competitive pricing. This is especially the case for sources of capital which previously only looked at opportunistic products.'
The most notable deals in H1 2015 included: Enterprise Park, acquired by Tristan Capital Partners in Kraków; Green Horizon, purchased by Griffin in Lodz; a portfolio of offices comprising Europlex, Wiœniowy A and Irydion in Warsaw; and Millenium in Katowice acquired by Lonestar; Sarni Stok in Bielsko Biala and Focus Park Rybnik acquired by Union Investment; Solaris Centre in Opole purchased by Rockcastle as well as the Europolis/CA Immo and FM Logistics industrial portfolios closed by TPG and WP Carey respectively. All of these transactions were medium-sized deals ranging between €50 and €100 mln.
