Andrei Văcaru, Head of Capital Markets CEE at iO Partners, spoke to Property Forum about the volume of local real estate investments in 2023 and Romania’s ability to attract more institutional investors in various sectors.
iO Partners, JLL preferred partner in Romania, Czech Republic, Hungary and Slovakia, has appointed Andrei Văcaru as Regional Head of Capital Markets for CEE. He has been working for the agency in Romania for the past 16 years.
Commercial property investment in Romania totaled €1.25 billion in 2022, up 40% compared to the previous years, of which the biggest single deal was Pavăl Holding’s acquisition of CA Immo’s office portfolio for €600 million, according to real estate consultancy JLL România. Last year's result was the biggest since 2008.
Investment transactions in Romania’s commercial property sector amounted to €656 million in the first three quarters of 2022, which was up 16.5% compared to the same period of last year, with offices driving deal volumes, according to real estate consultancy JLL Romania.
Commercial real estate investments in Romania amounted to €570 million in the first nine months, down 29% compared to the same period of 2020, according to JLL Romania. The Bucharest market attracted 70% of the total investment volume, mainly in the office segment.
Investment transactions totaling over €400 million are in different negotiations stages in Romania, mostly in the office and retail segments, according to real estate consultancy JLL Romania.
ArchivIT, a provider of archiving solutions, has leased another 5,700 sqm of warehouse space in VLParks Bucharest South, which is developed by Villar International. The company already occupies 16,000 sqm of warehouse space in the same project.
Energy equipment supplier Eximprod is relocating its office in Equilibrium 2 building, developed by Skanska in northern Bucharest. The company has leased 1,300 sqm in a deal brokered by CBRE Romania.
Viking Shared Service Center Cluj has relocated its Cluj-based offices in Record Park, which is owned by AYA Properties Fund and developed by Speedwell. The lease deal was brokered by Griffes.
New appointments
Axi Immo is developing its Capital Markets Department. As of November 2023, Jakub Grabara was appointed as Associate Director in the Capital Markets Department. He will be responsible for transactional services, i.e., acquiring, purchasing, and selling commercial real estate.
Romanian developer ARQA has named Alexandru Rădulescu as Chief Sales Officer. During his career, he has overseen the sale of 17 residential and mixed-use projects.
Multi Corporation appoints Ola Zajac as New Business Ventures Manager. Ola will be looking for new business expansion strategies and venture capital investment opportunities across Europe and will be based out of Lisbon.
ABOUT US
Property Forum is a leading event hub in the CEE real estate industry with nearly 10 years of experience. We organise conferences, business breakfasts and workshops focused on real estate, in London, Vienna, Budapest, Bucharest, Bratislava and Prague, amongst other locations.
I have read the Privacy Policy of International Property Network Inc. and I consent to International Property Network Inc. sending me newsletters and managing my personal data provided for this purpose.
