ARTICLES LABELLED WITH TAG Bucharest

Prime Kapital, a property developer established by four former top executives of NEPI, will be developing its first residential project in Romania, called Avalon Estate. The 800-unit project, located in northern Bucharest is due for completion in 2024, zf.ro reports.

Kiddo Play Academy, a company which specializes in family entertainment, will open its second playground in Bucharest on the 1st of June, on an area of approximately 1,200 sqm in ParkLake Shopping Center. The leasing negotiations were conducted by Colliers International Romania.

Piraeus Bank is about the sell the Landmark office buildings in Central Bucharest to Revetas Capital, ZF has learnt.

Globalworth Real Estate Investment Limited in partnership with BT Capital Partners, a company of Banca Transilvania Financial Group, announced the second admission to trading on the Bucharest Stock Exchange (BVB) of the corporate bonds issued by the company, with a total value of €550 million.

NEPI Rockcastle is investing €3.5 million in refurbishing the food court and entertainment area in Bucharest's Mega Mall shopping centre. The project, designed by Corvin Cristian Studio, targets an area of 10,000 square meters.

Real estate developer Portland Trust and investment fund Ares Management have sold the Oregon Park office complex in Bucharest to Lion’s Head Investments, a joint-venture between South African investment fund Old Mutual Property and AG Capital, for an undisclosed sum.

Nearly 55% of last year’s supply of new offices in Budapest came in the form of two schemes: Timpuri Noi Square I & II (33 000 sqm) and The Bridge (36 000 sqm). It is thanks to these developments that the total office stock in Romania’s capital reached the threshold of approx. 3.2 million sqm. BNP Paribas Real estate’s analysis highlights that tenant expectations in respect of high-quality space made developers focus mainly on supplying Class A office buildings to the market.

Hagag Development Europe has recently launched an IPO on the Tel Aviv stock exchange covering its projects to be developed in Romania. The IPO’s value is €15 million. The Israeli developer is planning a series of further acquisitions targeting landmark buildings and land plots in Bucharest.

CA Immo has acquired Campus 6.1 office building in Bucharest from Skanska; the transaction volume is approx. €53 million. The closing of the transaction is subject to the conditions usual for such transactions and is expected by the end of 2018.

Atrium European Real Estate Limited has entered into an agreement to sell Atrium Militari shopping centre in Bucharest, Romania to MAS Real Estate Inc., for €95 million, representing a 9% premium to book value on 31 December 2017. The transaction is subject to the fulfilment of certain conditions precedent which are expected to be finalised by the end of the third quarter of 2018.