by Ákos Budai | Investment

Globalworth Real Estate Investments has acquired Building C of the Green Court Bucharest campus developed by Skanska. The gross transaction value is approximately €38 million and the acquisition is expected to close in Q3 2017.


Located to the north of Bucharest in the Barbu Vacarescu - Floreasca area, the Green Court Bucharest campus is the first project completed by Skanska in Romania. The campus comprises three Class A office buildings with a total rentable area of 54,300 sqm. Globalworth is the owner of buildings A and B of the campus, which it acquired in June and December 2015, respectively. Building C has a surface area of 16,300 sqm and has received LEED Gold certificate for energy efficiency. At present, companies including General Motors, Orange, Capgemini, ABB, Legand and Merck occupy space in Building C.
 
The Green Court Bucharest project was developed using eco-friendly technologies and sustainable solutions used to minimize the building's environmental footprint and significantly reduce its operating costs. Modern technology such as the energy efficient façade, which reduces solar thermal transfer, and energy efficient lighting systems incorporating motion and intensity sensors will guarantee a comfortable work environment. The property also features powering stations for electric cars, special parking spaces and facilities for bicycles, a green interior courtyard with free Wi-Fi, and an IT Hub in the reception of Building C, available not only for office employees but also for local community members.

"This marks the third transaction between Globalworth and the Swedish developer Skanska and, following its completion, Globalworth will own the entire Green Court Bucharest complex. Together with the other properties that we own in this area, the Green Court Bucharest Campus further strengthens our commanding position in the north Central Business District of Bucharest, the city's largest and most sought-after office hub. This transaction marks another very important step in attaining our strategic objectives and consolidating our portfolio with modern, high-quality and energy efficient buildings”, Dimitris Raptis, Deputy Chief Executive Officer and Chief Investment Officer of Globalworth commented.