The volume of Polish commercial property deals reached €939 mln in Q1 2014, some 47% higher than the €638 mln of Q1 last year, according to figures from JLL.
The volume of Polish commercial property deals reached €939 mln in Q1 2014, some 47% higher than the €638 mln of Q1 last year, according to figures from JLL.
Much of the rise can be attributed to one deal: BlackRock’s €300 mln sale of Warsaw office building Rondo I to Deutsche Asset & Wealth Management.
Warsaw also recorded the sale of Lipowy Office Park for €108 mln by CA Immo to WP Carey.
In total, the office sector saw €552 mln of deals over the three-month period. Retail accounted for €296 mln, and industrial €91 mln.
‘The Polish investment market is keeping up the dynamic pace of growth, and commercial real estate continues to be attractive for investors,’ said Agata Seku³a, JLL’s head of retail investment for CEE.
‘Taking into account the ongoing negotiations, investors’ activity, and the assets for sale, we expect 2014’s total investment volume to be on par with or even higher than 2013.’
