Two of the most important transactions involved the Upground mixed-use scheme (office and residential) and Charles de Gaulle Plaza (office). There were also and several small and medium size transactions like: InnovationsPark (industrial), Moldova Mall (retail), Mario Plaza (retail) and PIC Oradea (retail).
Improved investor confidence and lending conditions, as well as considerably more active opportunistic investors in recovering markets, were the main factors behind a strong start for the European commercial real estate market in 2014, according to CBRE.
However, while Romania reported growth, commercial real estate investment activity in Central & Eastern Europe (CEE) dropped 35 percent on the same quarter last year, “driven by a significant decrease in Russia, which recorded its lowest quarter since Q1 2012”. Poland surpassed Romania and reported a 41 percent increase “showing significant growth compared to Q1 2013. Some of the smaller markets also saw decreased levels of investment; however, Romania saw significant uplift, albeit from a low base,” according to CBRE representatives.
Total commercial real estate investment in Europe reached EUR 37.9 billion in Q1 2014 – an 18 percent increase on Q1 2013. The fastest y-o-y growth in Q1 2014 was seen in Austria (+183 percent), Ireland (+179 percent), Spain (+132 percent) and Finland (+103 percent). The core markets of Sweden (+68 percent), Germany (+47 percent) and France (+37 percent) also showed significant growth compared to Q1 2013. (source: business-review.eu)