Big developing groups find their interests mostly in the sphere of hotels, trade and logistics. These include also investments exceeding €100 million.
Already the beginning of the year 2016 saw interesting news in changes of ownership structures on the real estate market. In the beginning of January, the group controlled by J&T Best Hotel Properties sold its hotels Crowne Plaza Bratislava and Grand Hotel Kempinski in the High Tatras to hotel fund Nova Hotels for €56 million.
Also the Bratislava-based shopping centre Central changed hands: the Allianz Real Estate group became its new owner, acquiring 100 percent of shares for €175 million from the developer Immocap. From the point of view of financial volume, this is allegedly the biggest investment on the real estate market over the past year.
“Sale is part of strategy with such projects,” Peter Lukeš, chair of the board of Immocap, told the Pravda daily. “We planned to build Central, fill it, launch its operation and when it is in good condition, also to sell it.”
Investment groups rarely plan to operate such centres over the long-term, but rather to invest in further developing projects.
Important deals at the end of last year included e.g. sale of administrative building Westend Tower, bought by CTP developer; or acquisition of Trigranit company (comprising Lakeside Park and adjacent plots in Jarovce borough of Bratislava) by TPG Real Estate.
Investments in well-established commercial real estate offer attractive stable revenues which makes them sought-after by investors, Marián Mlynárik of CBRE real estate consultancy company said, adding that in this light, investments in real-estate projects worth over €100 million are no exception.
Historically the most successful year so far was 2014 when €610 million was invested in Slovakia in this sphere.