AFI Europe N.V. and NEPI Rockcastle have announced today the conclusion of the transaction for the acquisition of NEPI Rockcastle’s office portfolio in Romania, with a total GLA of 118,500 square meters.
The transaction value is in excess of EUR 300 million.
The acquired portfolio consists of 4 Class A office projects totalizing 8 office buildings situated in Bucharest and Timisoara:
- Floreasca Business Park, located at 169 Calea Floreasca, Bucharest, with 36,470 square meters GLA;
- The Lakeview, located at 301-311 Barbu Vacarescu St, with 25,907 square meters GLA;
- Aviatorilor 8, located at 8A Aviatorilor Blvd., Bucharest, with 8,203 square meters GLA;
- Timisoara City Business Center, located at 10 Coriolan Brediceanu St, Timisoara, with 47,936 square meters GLA.
“The acquisition of NEPI’s office portfolio in Romania represents a strategic addition to our business model. We have been developing organically major projects in Romania over the past 10 years and now we are extending our portfolio also through acquisitions of income generating properties which will strengthen our position on the Romanian market”, stated Doron Klein, CEO of AFI Europe in Romania and Czech Republic.
This acquisition was supported by the following advisors: CMS – legal, Ernst & Young – tax financial and JLL – commercial.
AFI Europe Romania is one of the leading real-estate companies on the market. The company has developed and also has under development landmark retail, office and residential projects in Bucharest, Ploiesti and Brasov.
After this transaction and the completion of ongoing office projects (AFI Park Brasov and AFI Tech Park 2-3), AFI Europe Romania will have under management a total portfolio of 282,000 sqm GLA office spaces, becoming one of the biggest office owners in Romania.
On the office segment of the real-estate market, AFI Europe Romania is the developer and owner of AFI Park 1-5, AFI Tech Park and AFI Park Brasov.