News Article Bucharest Bucharest Properties REIT residential Romania Vitan Estates
by Property Forum | Residential

US-owned Bucharest Properties REIT has appointed real estate consultancy Colliers to provide full corporate leasing services for Vitan Estates, Bucharest's first residential development exclusively for rental.

The two completed buildings in the Vitan Estates residential complex are almost fully leased, reaching an occupancy rate of 98.7%, and the third building, which is in the construction phase, is 100% pre-leased. 

“We are extremely pleased that Bucharest Properties REIT has chosen Colliers for full leasing services for phase 3 of the Vitan Estates residential project, strengthening the long-term partnership for the development of this segment of the residential market as well,” said Gabriel Blăniță, Associate Director Valuation & Advisory Services at Colliers Romania. 

The agency is currently in discussions with several developers and investors about the construction of rental-only complexes in several areas of Bucharest and have recently brokered a land transaction for such a project.