AFI Begins Construction of Kindergarten at AFI City Development in Prague

fletcher@cijeurope.com
3 July 2026
Company News, Construction, Education, Mixed-use

AFI has started construction of a new kindergarten within its AFI City mixed-use development in Prague’s Vysočany district, expanding public infrastructure as the former industrial area continues its transformation into a residential and business neighbourhood.

Located near Kolbenova metro station, the facility will accommodate 96 children across four classrooms and is scheduled for completion in November 2027. Once completed, the kindergarten will be operated by Prague 9 Municipality.

The two-storey building has been designed to meet current standards for early childhood education and will include food preparation facilities, support space for children’s sports activities and outdoor areas for recreation, education and physical exercise. The project was designed by architectural studio ORTOGONAL, while Metrostav CZ has been appointed as the general contractor.

The kindergarten forms part of a broader programme of infrastructure improvements accompanying the development of AFI City. At the same time, AFI has begun the second phase of a cycling route running through the development alongside the railway corridor, improving east-west connectivity within the district.

Additional works include extending the railway noise barrier to a total length of 372 metres and delivering new landscaping around both the kindergarten and the wider development to enhance public space and environmental quality.

The investment responds to growing demand for preschool facilities generated by the ongoing redevelopment of the former Vysočany brownfield area, where residential construction has significantly increased the local population in recent years.

AFI has been active in the Czech market since 1997 and currently manages a portfolio of office and residential properties. Its office assets include AFI Karlín, AFI Vokovice, AFI City, Classic 7 Business Park, Avenir Business Park and AFI Port7. Under the AFI Home brand, the company also operates nearly 900 rental apartments across Prague and is currently developing additional residential projects in Strašnice and Nová Elektra.

The project reflects a broader trend across Prague’s large-scale mixed-use developments, where developers are increasingly incorporating schools, childcare facilities, transport infrastructure and public spaces alongside residential and commercial buildings. As the city continues to regenerate former industrial districts, investment in social infrastructure has become an increasingly important component of long-term urban development.

Vengrove Expands UK Logistics Portfolio with £24.65 Million Acquisition

Vengrove has strengthened its UK industrial portfolio with the acquisition of two mid-box logistics assets in the West Midlands and North West England for £24.65 million, continuing the deployment of capital through its pan-European logistics investment strategy.

The properties, acquired from an institutional vendor on behalf of VRE Evergreen Logistics Partners (VREELP), provide a combined 197,083 sq ft of logistics space and expand the strategy’s presence across its three core investment markets of the UK, Germany and France.

The West Midlands asset is located at Rabone Park in Smethwick, between Birmingham city centre and Junction 1 of the M5 motorway. It comprises 67,847 sq ft across two self-contained warehouse units leased to two occupiers.

The second acquisition is located at Stone Cross Park in Warrington, close to Junction 23 of the M6 motorway with links to Manchester via the A580. The property provides 129,236 sq ft across three warehouse units occupied by three tenants.

According to Vengrove, around half of the portfolio’s rental income is linked to lease events over the next three years, creating opportunities to renegotiate leases, improve rental levels and undertake sustainability upgrades. The company intends to manage these initiatives through its in-house asset and property management teams as part of its strategy to enhance asset performance and improve environmental standards.

VRE Evergreen Logistics Partners focuses on investing in light industrial and logistics assets located in urban areas, established logistics corridors and transport hubs serving major cities across the UK, Germany and France.

Unlike many cross-border investment managers, Vengrove operates dedicated local teams in each of its target markets and directly manages acquisition, asset management and property management activities rather than outsourcing these functions. The company says this integrated approach is intended to improve operational oversight and create additional value throughout the investment lifecycle.

The latest acquisitions also reflect broader trends within the UK logistics market. New speculative development of mid-sized warehouse space has remained below long-term averages in recent years, while occupier demand has continued to focus on well-located regional distribution facilities. This imbalance between supply and demand has increased investor interest in existing assets that offer opportunities for refurbishment, lease repositioning and ESG improvements, particularly in established logistics markets such as the Midlands and North West.

Skanska Sells Second Studio Office Building in Warsaw for €159 Million

Skanska has completed the sale of the second and final office building within its Studio development in Warsaw to Stena Real Estate AB for EUR 159 million (approximately SEK 1.7 billion), marking the completion of the disposal of the two-phase office complex.

The transaction will be recognised by Skanska Commercial Development Europe in the third quarter of 2026, while the transfer of ownership is expected to take place during the fourth quarter.

Completed in the fourth quarter of 2025, the office tower provides approximately 27,700 sqm of gross leasable area across 26 above-ground floors. The building is occupied by companies operating in sectors including finance, energy, pharmaceuticals, technology and professional services.

The property has been designed with a focus on workplace wellbeing, operational efficiency and sustainability. It is targeting LEED and WELL certifications, together with Building without Barriers, WiredScore and SmartScore accreditations. Digital building management technologies, including a digital twin supported by artificial intelligence, are used to optimise energy performance, operational efficiency and building management. The development also incorporates advanced digital infrastructure and a mobile wallet-based access system.

Studio is located in Warsaw’s Wola district, one of the city’s fastest-growing office locations, with access to two metro stations and an extensive public transport network. The two-building development has been designed around a landscaped public square that combines green space, seating areas and amenities intended to support employee wellbeing and encourage interaction.

The first building of the Studio complex was acquired by Stena Real Estate AB in the second quarter of 2024, making the latest transaction the completion of the investor’s acquisition of the entire project.

The sale reflects continued investor demand for high-quality office assets in Warsaw despite a more selective European investment market. Prime office buildings with strong environmental credentials, modern digital infrastructure, established occupiers and locations close to public transport continue to attract institutional capital, particularly in core business districts such as Wola, where new supply remains comparatively limited relative to demand for premium workspace.

HIH Secures Two New Office Lettings in Berlin

HIH Invest Real Estate has signed two new office leases in Berlin, with Materna Information & Communications SE and TotalEnergies taking space in separate office properties located in the capital’s central business districts.

Materna Information & Communications has leased office space at SpreeKarree, a mixed-use office building on Friedrichstraße in Berlin-Mitte. The letting fills space that became available following the departure of a previous occupier at the end of 2025. The transaction was brokered by Angermann.

Meanwhile, TotalEnergies has signed a five-year lease at the East Side Office development in Berlin-Friedrichshain. Occupation is scheduled to begin in spring 2027, with Colliers advising on the transaction.

According to HIH Invest, the agreements reflect continued demand for modern office accommodation in well-connected urban locations despite ongoing challenges across the German office market.

SpreeKarree is located adjacent to Berlin Friedrichstraße station within the city’s central business district. Completed in 2004, the property offers approximately 14,000 sqm of office and commercial space centred around a glazed atrium.

East Side Office is situated in Berlin’s Mediaspree district along the River Spree. Developed between 2016 and 2018, the office campus provides approximately 17,000 sqm of flexible office accommodation and benefits from strong public transport connections and a waterfront location.

The latest transactions highlight that occupiers continue to prioritise high-quality, energy-efficient office space in established business districts, even as overall office demand remains more selective. Buildings offering modern specifications, flexible layouts and convenient transport links continue to attract both technology companies and international corporates seeking long-term office locations.

Renters’ Rights Act Creates Unexpected Legal Issue for UK Student Housing Sales

fletcher@cijeurope.com
3 July 2026
Education, Indicators, Legal, Residential

An unintended consequence of the UK’s Renters’ Rights Act 2025 could complicate the sale of private purpose-built student accommodation (PBSA), creating additional legal obligations for landlords that were not anticipated when the legislation was introduced.

The issue stems from changes that took effect on 1 May 2026, when qualifying PBSA developments were excluded from the assured tenancy framework. This exemption allows operators to continue offering fixed-term tenancy agreements aligned with the academic year and to collect rent in advance, provided either the landlord or its managing agent belongs to a government-approved code of practice.

However, legal specialists have highlighted that the change may inadvertently trigger provisions under the Landlord and Tenant Act 1987, which grants certain residential tenants a statutory right of first refusal when a landlord intends to sell a property.

Previously, most PBSA residents occupied assured tenancies and therefore did not qualify for these protections. As new student agreements are now structured as common law tenancies, many tenants could potentially become qualifying tenants under the 1987 legislation, provided the statutory thresholds are met.

If applicable, landlords intending to dispose of a student accommodation asset may first be required to offer the property to qualifying tenants before completing a sale to a third party. Failure to comply with these requirements can carry significant legal consequences, including criminal liability and the possibility that tenants could challenge or unwind the transaction.

The issue is expected to be particularly relevant for investment transactions involving operational student housing assets, where legal due diligence will now need to assess whether the right of first refusal applies before any disposal proceeds.

The legislation may also have wider implications beyond the student housing sector. Residential properties let to corporate tenants are also outside the assured tenancy regime because the tenant is a company rather than an individual. As some landlords increasingly consider corporate lettings following the introduction of the Renters’ Rights Act, those occupancies could also create circumstances in which the right of first refusal becomes relevant.

Industry advisers believe this outcome was not the intended effect of the legislation and expect sector bodies to seek clarification or amendments from the UK government. Until any legislative changes are introduced, owners and investors in purpose-built student accommodation are likely to take additional care when structuring acquisitions, disposals and portfolio transactions to ensure compliance with the existing legal framework.

Source: CMS

German Economists Question Effectiveness of Temporary Fuel Tax Relief After Scheme Ends

The end of Germany’s temporary fuel tax relief has renewed debate over whether broad-based fuel subsidies are an effective way to support households during periods of high energy prices. Economists from the German Institute for Economic Research (DIW Berlin) and the country’s Monopolies Commission argue that while consumers initially benefited from lower prices, the measure ultimately delivered uneven results and offered only limited long-term value.

According to estimates by the Monopolies Commission, most of the tax reduction was initially reflected in lower fuel prices during the first weeks of the programme, with approximately 85% to 90% of the reduction passed on to motorists. However, the share reaching consumers declined towards the end of the scheme as retail prices began rising again before the measure officially expired.

Researchers argue that these developments highlight the complexity of fuel pricing, where wholesale markets, refinery costs and international oil prices often have a greater influence on pump prices than taxes alone. In their view, temporary tax reductions can ease costs for consumers in the short term but cannot address the structural factors that ultimately determine fuel prices.

The debate has also focused on who benefited most from the measure. Economists note that households with higher fuel consumption typically receive the greatest financial advantage from universal fuel tax reductions, while lower-income households or those relying more heavily on public transport benefit comparatively less. As a result, several researchers have questioned whether such policies represent the most efficient way to provide financial support during periods of elevated energy costs.

The Monopolies Commission has also suggested that part of the financial benefit generated by the tax reduction may have remained within the fuel supply chain rather than being fully transferred to consumers. While estimates vary, the commission believes that not all of the tax savings ultimately reached motorists.

The discussion comes as European policymakers continue to balance inflation, energy affordability and public finances. Since the energy price shock of recent years, governments across Europe have introduced a range of support measures, including tax reductions, direct payments and targeted subsidies. Increasingly, however, international institutions have encouraged governments to replace broad-based subsidies with more targeted assistance aimed at vulnerable households while preserving incentives for energy efficiency.

Although opinions differ over the effectiveness of temporary fuel tax reductions, the German debate highlights a broader policy challenge facing European governments: how to shield households from sharp energy price increases without creating significant fiscal costs or reducing incentives to improve energy efficiency. As fuel markets remain influenced by global commodity prices and geopolitical developments, economists increasingly argue that long-term solutions lie in strengthening market competition, diversifying energy supplies and designing more targeted forms of consumer support rather than relying on broad tax reductions.

CMA CGM to Acquire FedEx Supply Chain in US$1.4 Billion Deal, Expanding North American Logistics Platform

The CMA CGM Group has agreed to acquire FedEx Supply Chain from FedEx Corp. in a transaction with an enterprise value of approximately US$1.4 billion, significantly strengthening the North American contract logistics operations of its subsidiary, CEVA Logistics.

The transaction, announced on 1 July, is expected to close later in 2026, subject to customary regulatory approvals.

Once completed, the acquisition will almost triple CEVA Logistics’ contract logistics activities in North America. The combined organisation will employ around 20,000 people across more than 240 locations, including approximately 150 warehouses, substantially increasing CEVA’s presence in one of the world’s largest logistics markets.

The acquisition represents another step in CMA CGM’s long-term strategy of transforming itself from a global container shipping company into an integrated logistics provider offering end-to-end supply chain solutions. Since acquiring CEVA Logistics in 2019, the French group has steadily expanded its capabilities across contract logistics, freight forwarding, air cargo and port operations through organic growth and targeted acquisitions.

Alongside the acquisition, CMA CGM and FedEx intend to establish long-term commercial agreements covering both ocean and air freight. Under the planned arrangements, CMA CGM will become a preferred ocean carrier for FedEx, providing maritime transport services under a non-exclusive agreement. The companies also plan to cooperate on selected air cargo capacity, helping optimise aircraft utilisation and improve flexibility across international freight networks through 2028.

For FedEx, the transaction supports its strategy of simplifying its business portfolio and concentrating resources on core transportation services and specialised logistics sectors, including healthcare, automotive, aerospace and data centre supply chains. The company has increasingly focused on higher-value logistics services while streamlining non-core operations.

The acquisition also reinforces CMA CGM’s growing commitment to the North American market. In recent years, the group has significantly expanded its investments across the United States, including logistics facilities, air cargo operations, port infrastructure and shipping services, reflecting its broader ambition to build an integrated global supply chain platform.

The deal highlights the continuing consolidation of the global logistics industry, where major operators are investing across multiple transport modes to provide customers with increasingly integrated supply chain solutions. Growing demand for resilient logistics networks, combined with the expansion of e-commerce, manufacturing reshoring and more complex distribution requirements, continues to drive investment in warehousing, contract logistics and multimodal transport services.

As supply chains become more interconnected, industry analysts expect integrated logistics providers with capabilities spanning ocean shipping, air freight, warehousing and inland transport to remain well positioned to benefit from long-term structural growth in global trade and distribution. The CMA CGM–FedEx Supply Chain transaction reflects this broader shift, strengthening CEVA Logistics’ position in North America while allowing FedEx to sharpen its focus on its core transportation and express delivery businesses.

French Lingerie Brand Etam Opens New Store at Blue City in Warsaw

Blue City has expanded its retail offer with the opening of a new store by French lingerie retailer Etam, continuing the shopping centre’s strategy of strengthening its fashion portfolio with internationally recognised brands.

The new 127 sqm store is located on the ground floor and offers the company’s full range of women’s products, including lingerie, sleepwear, swimwear, sportswear and accessories. Customers will also have access to professional bra fitting services provided by trained consultants.

Founded more than a century ago, Etam has established a broad international retail presence and operates stores across Europe and other global markets. The brand is known for combining fashion collections with technical product development and has continued expanding its physical retail network alongside digital sales channels.

According to Blue City, the addition of Etam forms part of an ongoing leasing strategy focused on attracting established brands capable of serving a broad customer base across multiple age groups. The shopping centre has continued to strengthen its fashion and lifestyle offer as retailers seek locations with strong footfall and an established regional catchment.

Blue City currently hosts more than 200 tenants and reports an occupancy rate of 98%, reflecting continued demand for retail space despite the increasingly competitive retail environment.

The opening also illustrates the continued importance of physical stores for fashion retailers. While e-commerce remains an important sales channel, many brands continue investing in brick-and-mortar locations that allow customers to experience products in person and access specialist services that cannot easily be replicated online.

Across Poland’s retail property market, leasing activity has remained concentrated in well-performing shopping centres that combine strong accessibility with a diversified tenant mix. Landlords have increasingly focused on enhancing customer experience by introducing international brands, expanding food and beverage offerings and strengthening categories less vulnerable to online competition.

The arrival of Etam further broadens Blue City’s fashion offer and reflects the continued willingness of international retailers to invest selectively in established shopping destinations within Poland’s largest urban markets.

Panattoni Begins Construction of 500,000 sq ft Speculative Logistics Hub in Yorkshire

Panattoni has commenced construction of a new speculative logistics development in West Yorkshire, bringing forward what is expected to become the region’s only immediately available Grade A warehouse of approximately 500,000 sq ft. The project reflects continued confidence in demand for large-scale distribution facilities despite a more selective occupier market.

The development, known as Panattoni Wakefield 500, is being built at Wakefield Europort adjacent to Junction 31 of the M62 motorway, with practical completion scheduled for May 2027. The location provides direct access to the M62 as well as connections to the M1 and A1(M), while the adjacent rail freight terminal offers an additional transport option for occupiers seeking greater supply chain flexibility.

The facility will provide around 500,000 sq ft of warehouse and office accommodation designed to serve national distribution, manufacturing and e-commerce operations. The building will feature a 15-metre internal clear height, 56 loading docks, eight level-access doors, extensive vehicle parking, electric vehicle charging infrastructure and power capacity suitable for high-volume logistics operations.

According to Panattoni, the project has been designed to meet growing occupier expectations for energy efficiency and operational resilience. The development is targeting BREEAM Outstanding certification together with high EPC ratings and net-zero carbon during construction. Planned sustainability features include rooftop photovoltaic panels, rainwater harvesting systems, intelligent energy monitoring and water management technologies.

The decision to proceed on a speculative basis comes as the availability of large modern warehouse space remains constrained across Yorkshire. Industry data indicate that Grade A logistics buildings exceeding 190,000 sq ft are currently in limited supply within West Yorkshire, creating opportunities for developers prepared to build ahead of securing tenants.

Demand for larger logistics facilities has continued to be supported by structural changes in retail distribution, inventory management and manufacturing supply chains. Occupiers increasingly seek buildings capable of accommodating automation, higher power requirements and environmental performance standards while maintaining access to major transport corridors and labour markets.

Panattoni believes Wakefield’s position along the M62 logistics corridor offers access to one of the UK’s largest consumer markets while strengthening links between northern manufacturing centres and national distribution networks.

The 23-acre development site was acquired by Panattoni earlier this year and forms part of the company’s continuing expansion across the UK logistics market. Leasing of the completed development will be managed by Colliers, Commercial Property Partners and Knight Frank.

The project also reflects a broader trend within the UK industrial property sector, where developers continue to invest selectively in strategically located speculative developments despite a more cautious investment environment. Modern, energy-efficient logistics assets in established distribution locations remain among the strongest-performing segments of the commercial real estate market as occupiers continue upgrading their supply chain networks and replacing older warehouse stock.

Urban Partners Expands Capital Formation Team with Senior Appointment

Urban Partners has appointed Jennifer Andersson as Partner, reinforcing its capital formation capabilities as the European investment manager seeks to strengthen relationships with institutional investors and expand its international investor base.

Effective from 1 July 2026, Andersson joins the firm’s Capital Formation team with responsibility for investor relations, particularly across North America, where Urban Partners is seeking to deepen engagement with existing and prospective institutional investors.

The appointment reflects the growing importance of capital raising and investor relationship management within private real estate and infrastructure investment markets. As institutional investors increasingly seek long-term partnerships with asset managers, firms are investing more heavily in senior professionals capable of supporting fundraising, strategic client relationships and product development.

Andersson brings nearly two decades of experience from Nordic real estate investment manager Niam, where she held several senior leadership positions, including Co-Managing Partner and Head of Investor Relations and Business Development. During her time at the firm, she contributed to the expansion of its investment platform and worked closely with institutional investors across the Nordic region and internationally.

Before joining the real estate investment sector, Andersson worked in corporate finance at Goldman Sachs in the United States before holding strategy and business development roles in the technology and industrial sectors.

Urban Partners said the appointment supports its long-term strategy of expanding its global investor network while maintaining closer engagement with institutional clients. The company believes that understanding increasingly complex investor requirements has become a key competitive factor as fundraising conditions remain selective across private markets.

Although based in Stockholm, Andersson will work across Urban Partners’ international platform and report directly to Co-CEO Claus Mathisen, who oversees the firm’s capital formation activities.

The appointment reflects a broader trend across the alternative investment industry, where fund managers continue to strengthen senior investor relations teams as institutional allocators become more selective when committing capital. In recent years, pension funds, insurance companies and sovereign wealth funds have increasingly favoured managers with established investment track records, transparent governance and dedicated client servicing capabilities.

For investment managers, experienced capital formation professionals have become an increasingly important part of long-term growth strategies as competition for institutional capital intensifies across real estate, infrastructure and other alternative asset classes.

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