Polish commercial real estate investment volume well on the way to €4.4 billion – EuropaProperty

JLL has released its preliminary forecasts for 2016’s total volume of real estate investment transactions in Poland. According to the advisory firm, the total volume of real estate deals in 2016 may amount to almost €4.4 billion.

“Real estate investment transactions in Poland concluded between 1st of January and 21st of December 2016 were worth €4.136 billion,” commented Tomasz Puch, Head of Office and Industrial Investment at JLL Poland. “The real standout performer was the retail market which came in with €1.952 billion, followed by the office segment with €1.708 billion and the industrial/logistics sector with €476 million.”

He added: “Poland’s real estate investment market in 2016 has already exceeded 2015’s result with only pre-crisis 2006’s record €5 billion bettering it.”.

The largest real estate investment transactions in 2016 include the sale of: a 75 percent stake in Echo’s €1.2 billion commercial real estate platform in Poland by Griffin, Pimco and Oaktree to Redefine, Bonarka City Center in Kraków (€361 million) by Trigranit (TPG) to Rockcastle, Gdański Business Center A&B in Warsaw (€186 million) by HB Reavis to Savills Investment Management, Focus shopping centers in Piotrków Trybunalski and Zielona Góra (€161 million) by Aviva Polish Retail Fund to Rockcastle and Galeria Warmińska (€150 million) by Galeria Warmińska to Rockcastle.

In the period from the beginning of 2016 to date, the Capital Markets team at JLL Poland has advised on commercial real estate investment transactions worth around €2.5 billion. With a 66 percent agent market share, JLL is the clear market leader in Poland in the field of investment advisory. In 2016 experts from JLL advised on sales and acquisitions including a 75 percent stake in Echo’s commercial real estate platform in Poland (sell side advisory to Griffin, Pimco and Oaktree; the biggest transaction in the history of the Polish market), Gdański Business Center A&B (€186 million, sell side advisory to HB Reavis), Focus Park in Zielona Góra and Focus Mall in Piotrków Trybunalski (€161 million, sell side advisory to Aviva Polish Retail Fund), Galeria Warmińska in Olsztyn (€150 million, sell side advisory to Galeria Warmińska), NBGI logistics portfolio (sell side advisory to NBGI) or Prime Corporate Center in Warsaw (sell side advisory to Golub GetHouse).