CBRE assisted the Hexagon group of companies in selling a portfolio of three office buildings in Cluj-Napoca. By adding this new transaction, the volume of real estate investments reaches almost €200 million in Cluj-Napoca, thus maintaining its attractivity after Bucharest, in terms of real estate investment.
The three office buildings sold by Hexagon, Vivido Business Center, Advancity Business Center and Cube Office have a total of approximately 20,000 sqm of offices and accommodate tenants such as Porsche Engineering, Bosch, Vertiv, Riverbed or Metro Systems and Natuu. The buildings were purchased by Ideal Projects Services, as a result of a transaction advised by CBRE Romania and the local partner, Cristian Șimon, from QC Property.
“Following the first nine months of 2019 when Cluj-Napoca ranked next to Bucharest in the top of the most attractive cities regarding real estate investments, with almost 30% of the total volume, in the fourth quarter of the year we signed the agreement for a new transaction, which validates the high liquidity of this market. We estimate that the total investment volume in Cluj-Napoca will reach the threshold of €200 million this year”, stated Gijs Klomp, Head of Investment Properties, CBRE Romania.
The three buildings sale of the Hexagon group represents one of the most prominent transactions in the office market in Cluj-Napoca, together with the acquisition of The Office for €129 million and of the Liberty Technology Park for about €35 million.
Romania attracted an investment volume of €585 million, in the first nine months of 2019, of which 60% were in Bucharest, 29% in Cluj-Napoca and 11% in other secondary cities, according to CBRE Research data. In Central and Eastern Europe, the real estate investment market reached €8.6 billion in the first three quarters. Poland continued to lead the investment market, with a share of about 50% of the total amount, while Romania had a stable share of 7%.
As for the traded products, the office market preserved its place in the spotlight for the first nine months, attracting 50% of investments, followed by the retail sector with 27%, and by the industrial one, with 9% of the traded volume, shows CBRE Research data.
CBRE Romania has extended its local management team this fall, by recruiting Gijs Klomp as Head of Investment Properties. Gijs has an over 17 years' experience in real estate and has been involved in procurement transactions with a cumulative value of over €2 billion in Central and Eastern Europe.
