Kinstellar has successfully advised its client, Ideal Projects (a joint venture between the Vetimex and Mirus groups) on the successful negotiation, signing, closing and refinancing of the Cluj-based Vivido, Advancity, and Cube office projects. This is the largest office acquisition outside Bucharest in Romania this year, with a total value exceeding €30 million.
The three projects exceed 18,000 sqm of GLA and represent the newest additions to Class A Cluj office stock. Work on this matter included all aspects of the transaction: due diligence, negotiating and signing all transaction documentation, title insurance, refinancing, and regulatory matters.
The transaction team was led by Associate Andreea Grigorie and Managing Partner, Victor Constantinescu and with support from Associates Bianca Marin and Mădălina Perțe.
Victor Constantinescu
Managing Partner, Romania & Co-Head of Real Estate
Kinstellar
Victor Constantinescu is the Managing Partner of Kinstellar’s Bucharest office and the Co-Head of the firm-wide real estate practice. Kinstellar is a leading law firm in Central and Eastern Europe and Central Asia, with offices in 10 countries and over 250 lawyers. Victor focuses on all aspects of real estate transactions in the region for a range of international investment funds and local developers with over 15 years’ experience locally and regionally. His particular emphasis is on transactional work: acquisitions and sales of commercial real estate, as well as joint ventures, across all asset classes: retail, office, logistics, and agricultural. He has been ranked for several years as a Band 1 lawyer in the Romanian real estate sector by the leading international legal directories Chambers, Legal 500 and other benchmark publications. In recent editions, clients recommend him as "an outstanding practitioner for his commercially-oriented approach", as well as for "his commercial and precise advice, flexibility and international experience”. He is further described as "experienced, active and well connected’, with clients appreciating the "very easy communication" with him. Born in Canada, he is a native English speaker. He began his career practicing in the United States before moving to Romania full-time in 2004. He is admitted to the New York and Bucharest Bars. More »
Victor adds: "We are delighted to get this project across the line for our client after months of hard work. It continues to show Kinstellar's expertise at closing prime property transactions in Romania."
