ARTICLES LABELLED WITH TAG Romania

Kinstellar has successfully advised its client, Ideal Projects (a joint venture between the Vetimex and Mirus groups) on the successful negotiation, signing, closing and refinancing of the Cluj-based Vivido, Advancity, and Cube office projects. This is the largest office acquisition outside Bucharest in Romania this year, with a total value exceeding €30 million.

Revetas Capital Advisors and Cerberus Capital Management have put the Landmark office building in central Bucharest up for sale.  

The stock of industrial and logistics space on the Romanian market has exceeded the 4 million sqm threshold, 90% of the total stock being concentrated in eight large cities from the southern, central and western parts of Romania, according to a new report by the Cushman & Wakefield Echinox.

In 2019, the valuation department of Cushman & Wakefield Echinox evaluated properties with a cumulative value of €4.2 billion, while estimating an increase of 15% of the valuation volume for the upcoming year.

MLP Group has issued €30 million worth of bonds. The issue proceeds will be used to purchase land and implement projects to construct warehouses in Poland and abroad. On February 26th, the bonds will be introduced to trading on the Catalyst market.

Speedwell has mandated Knight Frank to sell the office buildings and sports centre of Record Park, a mixed-use project (office, sports centre & residential) situated in central Cluj-Napoca (next to Dedeman’s The Office). The sales mandate includes three separate buildings: two office buildings - a new Class A office building next to a renovated historic building of the former imperial stables - and a new stand-alone sports centre with a pool.

This year Spanish-based developer Gran Via Real Estate will complete the development of the Timișoara 58 residential complex in Bucharest, at the site of the former Frigocom factory, at the crossroads of Timișoara Boulevard and Moinești Street.

A new record level of modern industrial, office and retail projects is expected to be delivered in 2020, as developers announced projects of over 1.2 million square meters, according to the latest Bucharest City Report published by JLL.

According to the latest RICS Commercial Property Monitor, occupier and investment sentiment remains mostly positive across main CEE markets with the exception of Bulgaria where the outlook is slightly negative. Retail continues to suffer across the region as demand for retail assets fell on both the occupier and investment sides of the market in most countries.

Romanian developer Forte Partners has acquired a 9,300 sqm land plot of on Expozitiei Boulevard in Northern Bucharest, Ziarul Financiar reported.