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2013-04-29 00:00:00
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Poland and Russia are the best performers.The best first quarter result in the last four years.
According to the latest report from CBRE, the world’s largest commercial real estate services company, in the first quarter of 2013 total commercial real estate investment volume in Central & Eastern Europe reached €2.6 billion. The most active markets were Russia (€1.8 billion) and Poland (€600 million). According to the latest research CBRE, total investment volume for CEE is three times the level achieved during Q1 2012 and is also the best first quarter result in the last four years. Offices and retail continue to dominate, representing 44% and 37% of the CEE market respectively. For Poland these figures stand at 71% and 10%. Industrial properties are becoming increasingly popular and constituted 19% of total property investment volume in Q1 2013 in CEE and 17% in Poland.
In Poland significant deals were RREEF’s acquisition of Green Corner from Skanska Property Poland for €94.6 million and Hines Global REIT’s acquisition of New City from ECI for €127 million, both in Warsaw. Although smaller economies within the CEE have also seen an increase, the largest transactions were in Moscow. Metropolis shopping centre was acquired for around €900 million by Morgan Stanley Real Estate Investing and AFI Development completed its acquisition of the remaining 50% in Aquamarine BC III, a project in close vicinity to the Kremlin.
Source:http://www.outsourcingportal.eu/reports,cee-property-investment-surge-in-q1-2013,,,350,3.html
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