Despite global economic uncertainty, global demand for investment in real estate continues to remain strong, as evidenced by an 18 percent increase in global transaction volumes in 2011. Investors, while still cautious, are seeking to place capital.

The real estate market in central and eastern Europe (CEE) has reached a new, more mature stage in its development. The low-hanging fruit of steadily falling yields and extreme shortages of space is mostly gone, especially in central Europe, which comprises the westernmost CEE countries. Nevertheless, we continue to see compelling opportunities to invest in the region at multiple points on the risk/return spectrum.

The economic problem children of peripheral Europe — Greece, Italy, Ireland, Portugal and Spain — are at it again. Many pundits believe that they are causing the single currency experiment to veer seriously off the rails. Given both growth and political uncertainties within these countries, what are we to make of their real estate markets? Are they total non-starters for investors, or are there hidden gems and strategies that investors should consider?

Union Investment Real Estate GmbH has acquired Neue Promenade 6, an office/commercial building in downtown Berlin, on behalf of the DIFA-Fonds Nr 3 special fund.

New legislation in Spain that would restrict interest deductions for taxation purposes could reduce foreign investment in Spanish commercial real estate, according to a statement from the European Public Real Estate Association (EPRA).

Moscow’s office market is recovering in the aftermath of the global financial crisis, with falling vacancy rates and rental growth driven by increasing economic confidence, reports CBRE.

RREEF Real Estate, the investment management business of Deutsche Asset Management, has acquired a mixed-use development in the greater Helsinki area for €50 million from Finnish real estate developer YIT.

Belgian private equity advisory firm Tribeca Capital Partners, on behalf of a private investor, has acquired an office property in Brussels from Codic Belgium.

Poland’s commercial property market was dominated by foreign investors in Q1 2012, according to Savills, with non-domestic investors accounting for more than 98 percent of transactions in the first quarter.

Peakside Capital, on behalf of the Peakside Real Estate Fund I, has agreed to acquire Solvay GmbH’s German headquarters at Hans-Böckler-Allee 20 in Hannover in a sale-and-leaseback transaction.

ORCO Property Group has sold the Radio Free Europe/Hagibor office building in Prague for approximately $94 million (€75 million).

Orchard Street Investment Management LLP has acquired two properties in London for a total of £44 million (€54 million).

RiverBridge Capital Partners, a new specialist real estate private equity markets advisory and placement group, has been established, with offices in London and Sydney.

NBAD Investment Management (DIFC) Limited, a wholly-owned subsidiary of the National Bank of Abu Dhabi (NBAD), has been authorised by the Dubai Financial Services Authority and plans to launch a real estate investment fund focused on high-quality income-generating properties in the United Arab Emirates.

Invesco Real Estate (IRE) has made a series of acquisitions in Germany and Sweden for a total of €206 million.

Henderson Global Investors is planning the launch of two funds focused on European real estate debt investments: Henderson High Income Real Estate Debt Fund and Henderson Senior Secured Real Estate Debt Fund.

EPI Orange (Netherlands) SARL, a Dutch real estate portfolio, was sold for €50 million.