Romanian entrepreneur Daniel Ștefănescu, owner of mobile phone distributor Gersim, has purchased the IPA office building in northern Bucharest from a group of investors.
The building that has a leasable area of around 8,700 sqm was sold in a deal worth around €12 million, according to profit.ro, which reported on the deal.
Ștefănescu has previously invested in the real estate market and bought a land plot in Bucharest during 2021 for a planned residential project.
In Bucharest, the office gross take-up was 51,300 sqm in Q1 2025, a 44% year-over-year decrease, according to Cushman & Wakefield Echinox. However, the consultancy forecasts an acceleration in demand starting in the second half of the year, with several major deals expected to be signed.
