Office segment takes the spotlight in Romania real estate sector
The Romanian real estate market saw many transactions last year. In 2018, the office segment came into prominence compared to other areas. Investors from 2018 remained active and signed many new agreements. So, what real estate agreements have been signed in Romania?
Here are some real estate deals made in Romania last year …
Dedeman – The Bridge office project
Romania’s largest investors, Adrian and Dragos Paval, bought The Bridge office, which was developed by Dedeman Forte Partners. The project, which is located in the rising Orhideea area, will have a total leasable area of 80,000 sqm when completed. A rent agreement was signed with several companies for the office. Among these companies are BCR and technology group IBM, while UPC, Schlumberger and Medicover.
Lion’s Head Investments – Oregon Park office project
The biggest real estate deal of 2018 was the office segment. South-African group Lionıs Head Investments takes over Oregon Park, an office project. The rentable area of the project is approximately 70,000 square meters. The tenants of the building include Oracle, Deloitte, Euler Hermes and Kepler Alten. The number paid for the office was not disclosed. This agreement is the first agreement signed by Şirke in Bucharest.
Sonae Sierra – 50% of ParkLake shopping mall
Portuguese group Sonae Sierra has acquired a 50 per cent stake in ParkLake shopping center in Bucharest. The project, which opened in September, has been invested by Euro 180 million. The size of the deal was not disclosed, though. ParkLake mall has a leasable area of 70,000 sqm and hosts some 200 retailers.
Revetas/Cerberus – The Landmark office project
Revetas Capital and Cerberus Capital acquired Landmark office projects in Romania last year. Two funds were previously purchased in 2017 by the Radisson Blu / Park Inn hotel complex.The Landmark office project has a gross leasable area of 23,500 sqm and its tenants include law firm Wolf Theiss, lubricants distributor Total and tech unicorn UiPath.
Sevdenur Demir / realestatecoulisse.com
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