In the mid-1990s, Chicago-based Heitman became one of the first major property players to invest in Central Europe. The firm formed a JV in 1996 to develop the Warsaw Financial Center, a 32-story office building that was the tallest building in Eastern Europe. In 2000, the firm launched Heitman Central Europe Property Partners to focus on Poland and the Czech Republic, which closed on $125 million. Slovakia and Hungary were added to the mandate for the second fund, which closed on €175 million in 2002. By the time Heitman launched its third vehicle on €350 million in 2005, it was also looking for opportunities in Estonia, Latvia, Lithuania, Slovenia, Romania and Bulgaria. Otis Spencer, the firm's Warsaw-based portfolio manager, spoke with PERE about the evolution of Heitman's strategy in the region and where the firm is looking for value as competition grows.
4 min read · 23 January 2013
As Romania and Bulgaria gear up for EU accession, their real estate markets are becoming increasingly active, but that doesn't mean a shortage of risks. By Aaron Lovell
8 min read · 23 January 2013
A social phenomenon is taking place in Poland as residents trade up from Soviet-style homes to Western apartments. Private equity real estate investors are following the trend, in Warsaw and beyond. By Robin Marriott
8 min read · 23 January 2013
As yields continue to decline in Central and Eastern Europe, real estate investors are looking for new strategies and geographies to exploit. But some question whether the risks are worth the reward?
1 min read · 23 January 2013
China's explosive economic growth has led to some amazing real estate projects. But what happens if the bubble bursts? By Aaron Lovell
5 min read · 23 January 2013
The global real estate investment manager has bought a minority stake in the ports business of private UK property group Peel Holdings.
2 min read · 23 January 2013
Hiring Desmond Taljaard has stoked talks of Starwood launching a takeover of the publicly traded UK leisure group.
6 min read · 23 January 2013
The combined firm has recently launched a new European fund of funds vehicle, which hopes to grow assets up to €1billion.
2 min read · 23 January 2013
To encourage foreign investment in their burgeoning property markets, government ministers from both the Ukraine and India paid a visit to London last month. Will the positive spin work? By Robin Marriott
5 min read · 23 January 2013
Ted Darnall, a veteran of Starwood Hotels, has joined the hospitality-focused firm as a partner and will help invest its $425m second vehicle.
4 min read · 23 January 2013
