European real estate private equity firm Peakside Capital has completed over €550 mln of transactions in Central and Eastern Europe in 2015, including office and retail acquisitions of €180 mln comprising 76 properties located in Poland and the Czech Republic.
European real estate private equity firm Peakside Capital has completed over €550 mln of transactions in Central and Eastern Europe in 2015, including office and retail acquisitions of €180 mln comprising 76 properties located in Poland and the Czech Republic.
In addition, the firm set up a joint venture in Poland with an internationally-active, institutional investor to acquire three office assets with value add potential while it also doubled the size of a separate account mandate with a sovereign wealth fund which is looking to make over €100 mln of opportunistic investments across the region during 2016.
In terms of disposals, Peakside sold 16 assets located in Poland, the Czech Republic and Hungary for €140 mln in total.
Finally, the firm's debt management activities resulted in the origination of over €230 mln of third-party debt at accretive rates across the region.
'It is particularly exciting to be starting 2016 with opportunistic buying power in excess of €100 mln for which we will target mispriced or undermanaged commercial properties and for the establishment of development joint ventures,' commented Otis Spencer, president of Peakside Polonia Management and managing director for Peakside’s CEE business. 'In addition, we look forward to being active in the core/core plus space on behalf of a Singaporean-based REIT looking to establish an office portfolio in Poland for which Peakside is their exclusive advisor.'
