AFI Europe NV has concluded a new agreement with NEPI, on 5th August 2020, for the purchase of 4 Class A office projects in Romania, with a total GLA of 118,500 sqm.
The transaction value is of EUR 290 million and the portfolio’s takeover is scheduled to be finalized within the next four months.
“AFI Europe Romania remains committed to developing its strong portfolio on the local market. This acquisition is fully in line with our strategy of expanding our operations in Romania with focus on yielding properties”, stated Doron Klein, CEO AFI Europe Romania & Czech Republic.
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.
AFI Europe Romania 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 developments (AFI Park Brasov and AFI Tech Park 2-3), AFI Europe Romania will have under management close to 300,000 sqm GLA office spaces, becoming one of the largest office owners in Romania.
On the office segment, AFI Europe Romania is the developer and owner of AFI Park 1-5 and AFI Tech Park, both in Bucharest, and AFI Park Brasov, in the center of Brasov which will be inaugurated this autumn.