Smartown Group has successfully completed the sale of the historic Dionisie Lupu office building in Bucharest, at a yield of 8.2%
Originally constructed in 1866, the property underwent a comprehensive structural consolidation and refurbishment between 2013 and 2014.
The building that is fully occupied is composed of two interconnected office buildings, spanning four floors and totalling 2,470 sqm.
George Dragan, CEO of Smartown Group, said: "The sale of Dionisie Lupu Office Building marks a strategic milestone in our portfolio optimisation process. This landmark property reflects our commitment to investing in premium assets that combine historical value with modern functionality. We are pleased to hand it over to a real estate group we trust will continue to enhance its potential."
Designed with sustainability and comfort in mind, the offices are equipped with state-of-the-art, energy-efficient systems. These include advanced VRV air conditioning for optimal climate control year-round and an on-site power plant to ensure reliable operations. For the convenience of tenants and their guests, the property also provides 67 dedicated parking spaces.
The sale aligns with Smartown Group's strategy of assembling a diverse real estate collection that includes both sustainable modern office spaces and unique historical villas.
