Property investor and asset manager Solida Capital has purchased the office project Victoria Center in Bucharest from Manova Partners, marking its first transaction in Romania and strategic expansion into CEE. The deal value was not made public.
The project is located on Calea Victoriei, one of the most high-end and affluent streets in Bucharest. The office building has a leasable area of 8,600 sqm, distributed across 10 floors, including retail area on the ground floor and 92 parking spaces.
“We are confident that this market holds substantial opportunities for growth, and we are committed to further strengthening our footprint in the region while also creating significant value for our investors,” said Jean Aboumrad, Founding Partner of Solida Capital.
Florian Winkle, Co-CEO at Manova Partners, added that the company remained committed to Bucharest, where it holds CDG Plaza office plaza.
Kinstellar acted as lead legal counsel for the buyer, with Colliers providing commercial advisory services, Ernst & Young advising on financial and tax matters, and Optim Project Management providing technical support.
Victor Constantinescu, Bucharest Managing Partner and Head of Firm-wide Real Estate at Kinstellar, said: "Thrilled to have advised Solida Capital on their first real estate investment in Romania! A huge congratulations to all parties involved for their hard work and perseverance—completing this transaction was a team effort. Grateful to our client for their trust and to everyone who contributed to making this transaction happen!"
The seller was advised by Peli Partners (legal), iO Partners (commercial), CMS (tax and financial), and Sentient (technical). The financing was backed by Banque Banorient France.
Colliers represented Solida Capital Europe from the beginning of the acquisition process to closing and provided end-to-end advice and support closely collaborating with Solida’s team and advisors.
“We are grateful to Solida Capital for their trust in our advice during their strategic market entry into Romania. There is hardly a better way to access this high-potential market than the acquisition of Victoria Center executed by Solida. We look forward to seeing their investment thrive and to the growth of Solida in Romania”, states Robert Miklo, Head of Capital Markets at Colliers.
“We congratulate and welcome Solida Capital to Romania and look forward to strengthening our relationship by providing Property Management services for the newest landmark asset in their portfolio, Victoria Center”, notes Ștefania Baldovinescu, Senior Partner for Asset Services at Colliers.
Romania’s real estate investment market closed 2024 with a total transaction volume of €750 million, marking the highest growth in transactional activity among the six largest economies in Central and Eastern Europe (Bulgaria, the Czech Republic, Hungary, Poland, and Slovakia). For 2025, Colliers consultants expect a promising year, with a strong pipeline of transactions. Ongoing negotiations with a value in the range of €500 million suggests that investment volumes in 2025 have a good prospect of exceeding the levels of last year.
