Property investor Yellow Tree has purchased the Olympia Tower office building in Bucharest from Bluehouse Capital for an undisclosed sum.
The project located close to Unirii Square has a leasable area of 10,000 sqm and has an occupancy rate of 93%. Real estate consultancy Knight Frank Romania represented Bluehouse in this transaction closed in December 2022 andacted as the exclusive leasing agent of Olympia Tower.
“Olympia Tower comes to consolidate our portfolio with another performant product and we are grateful for the professional collaboration to all the parties involved throughout the process. In 2023, we continue to be on the lookout for mainly office and logistics/industrial sectors”, added Cristian Ezri, Chief Investment Officer, Yellow Tree,” said Cristian Ezri, Chief Investment Officer, Yellow Tree.
Horațiu Florescu, Chairman & CEO Knight Frank Romania, Hungary, Bulgaria, Greece, Serbia, pointed out that the negotiations for the project started during the pandemic and were completed despite the ongoing conflict in Ukraine. He said the deal is ”confirming the quality of the product, the interest in office buildings and the very good yields that still attract investors to the Romanian capital.”
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