The investment portfolio of CA Immo worth approx. EUR 3.4 billion is characterised by large, inner-city office properties (accounting for 88 percent of the total portfolio) in Central Europe metropolitan cities, a press release informs.
Around 47 percent of the portfolio (by book value) is located in Eastern Europe, 37 percent in Germany and 16 percent in Austria; more than 60 percent of the total office space have been granted DGNB, LEED or BREEAM sustainability certification. The total book value of the Romanian asset portfolio, which accounts for 7 percent of the total CA Immo portfolio and includes representative office buildings like Europe House and Riverplace, stands at EUR 293 million, totalling a rentable area of some 105,800 sqm.
“In 2017, we could make good use of the continued dynamic situation in the Bucharest office renting market. Also in 2018, we see strong demand and continuously rising renting levels for our local office portfolio. Showing an occupancy rate of 94 percent, our five office properties in Bucharest are as good as fully let. The development of Orhideea Towers, which is scheduled for completion in 2018, is enabling us to complement our top-tier tenant base and, at the same time, meet the expansion plans of Romania’s fastest-growing companies such as Bitdefender and Mysis, some of whom are long-standing partners,” Marian Roman, Head of CA Immo Romania, stated.
Four of the five Bucharest office buildings have been awarded LEED sustainability certification in gold and BREEAM very good respectively, the certification process for Bucharest Business Park is still ongoing (all key performance indicators as at 30 September 2017).