by Ákos Budai | Investment

Aberdeen Asset Management Deutschland AG has signed an agreement to sell the Construdava office building in Bucharest to AdamAmerica, the advisor of the seller, Colliers International reported.


Construdava is an office building with a total leasable area of 9,400 sqm, located in the north-eastern part of the city, directly on the Pipera-Tunari main road. The building is fully leased by Metro Systems, the internal information technology provider of Metro Group. 
 
The transaction has been advised by Colliers International and Cameron McKenna Romania law firm, as seller's consultants. The buyer, AdamAmerica, has been represented by Biris Goran law firm. 
 
"The sale of Phoenix Tower last year and then of Construdava confirms the interest for medium sized office buildings, supported especially by easier access to financing," said Simina Niculita, Associate Director of Investment Services at Colliers International. "2016 was a dynamic year in terms of transactions with office buildings, this being the fourth transaction closed by Colliers in 2016." 
 
According to Colliers, the real estate investment market in Romania is on a rising trend as both the volume of closed transactions and the interest from foreign investors registered sizable increases due to favourable international capital flow dynamics, positive macro-economic environment, and last but not least an improved financing environment. 2016 maintained comfortable market liquidity, marking a total investment volume of €720 million.