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The Warsaw Voice » Real Estate » January 16, 2008
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Commercial Property Trade Down
January 16, 2008   
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The Polish commercial property investment market saw 2.83 billion euros of assets traded in 2007, a drop of 40 percent on 2006, according to international property consultant Cushman & Wakefield.

Despite the slowdown, 2007 was another year of intense activity among investors. Retail was again the most preferred sector, followed by offices, Cushman & Wakefield analysts said.

In 2007 there were fewer deals of substantial volume, with the sale of the Simon Ivanhoe portfolio to Macquarie CountryWide Trust for 232 million euros the largest deal of the year. There were 77 transactions with an average volume of 37 million euros, compared to 97 transactions worth on average of 49 million euros in 2006.

Last year the most active players on the Polish market were German, Dutch and Austrian funds, which are generally equity buyers or with lower leverage, for example Deka, Degi, SEB, Union, Meag and ING, Australian investors such as Macquarie, and the Polish investment funds of AIB Polonia, WBK and BPH, according to Cushman & Wakefield.
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