ARTICLES LABELLED WITH TAG Andrei Văcaru

Industrial developer WDP has purchased wholesale retail park Expo Market Doraly from ARA Europe and Romanian investor Gheorghe Iaciu for an undisclosed sum.

Pan-European commercial property collective, M Core, has officially launched into the Romanian market following the acquisition of 25 retail parks from Mitiska REIM in a deal worth  €219 million.

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.