Skanska sells two office buildings in Bucharest for EUR 97 M

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Skanska has sold the Campus 6.2 and 6.3 office buildings in Bucharest to S IMMO AG, an Austrian-based real estate company. This is the buyer’s first acquisition with Skanska and the largest transaction Skanska has concluded on the Romanian market thus far.

Campus 6.2 and 6.3 are phase 2 of the Campus 6 office complex, located in the Central-West area of Bucharest. The two buildings have a rentable area of nearly 38,000 square meters and 463 parking spaces. Currently, 99% of the buildings are leased by reputable companies such as Microsoft and Société Générale European Business Services.

It is the fifth sale that Skanska Romania has made in nine years of existence on the local market, and the unique features of the project turn Campus 6 into a destination that attracts customers from various fields. The Campus 6 complex has created a space that combines a healthy working environment with relaxing areas and facilitates access to a full range of services to the highest standards provided by World Class, EasyBox, Total Wash, Help Net, and Lagardère.

“The sale of the two buildings is a very special one. It is one of the largest transactions in Romania, in the global context in which we still find ourselves, the largest transaction for Skanska, on the local market and the first concluded with S IMMO AG, by Skanska, globally. We always focus on building long-term partnerships, and in the case of Campus 6.2 and 6.3 we started this series together with Microsoft and Société Générale European Business Services and we continue now with S IMMO AG. Having such companies as business partners makes us extremely proud and it gives us very good energy to maintain our sustainable pace of business development in Romania. Many thanks to the entire project team and colleagues involved in this transaction because they are always making it ‘possible’ from what sometimes seems very difficult to achieve,” said Aurelia Luca, Executive Vice-President of Operations in Romania for the commercial development division of Skanska in the CEE.

Phase two of Campus 6, designed by Westfourth Architecture, comprises two 11-story Class A office buildings.

Campus 6.2 and 6.3 are a first-class addition to our portfolio in Bucharest. We are absolutely convinced that the office market in the Romanian capital will continue to grow strongly following a slight, pandemic-related stagnation. Once completed, the two properties will add long-term value to S IMMO’s CEE portfolio and will deliver positive contributions to earnings,” said Friedrich Wachernig, member of S IMMO AG’s Management Board, expressing his satisfaction with the acquisitions.

During the sale process, Skanska was assisted by PeliPartners and Jones Lang LaSalle.

We have assisted Skanska on this project, from the first step of the purchase of the land, to the sale. We are glad that we have contributed to this development and that we have continued our 10-year collaboration with Skanska. It is always a privilege. This transaction is also excellent news for the market – recovering slowly but steadily in a difficult year,” said Oana Badarau, partner and head of real estate at PeliPartners.

Bucharest amounted to over 700 million euro of total divestment volume in 2020 until now, which is approximately 80% of the volume for Romania, according to JLL. Despite the Covid-19 pandemic, the market is driven by office transactions, which represent over 86% of the total transaction volume at a national level and almost 90% at Bucharest level. The city’s vibrant development makes it attractive for new and returning investors who are looking for new business opportunities and solid returns on investment.

The sale of Campus 6.2 and 6.3 represents the most relevant benchmark for the Romanian real estate market after the outbreak of the pandemic. It is also a new proof of liquidity and of the fact that prime properties can attract investors with a successful presence in the country but that have not made new acquisitions in a long time. Our cooperation with Skanska throughout the course of this development, starting with identifying and assessing the plot, demonstrates the level of maturity and professionalism of the local real estate consultancy market, with JLL proving its capability to offer complex integrated services,” said Andrei Vacaru, Head of Capital Markets, JLL Romania.

Campus 6 is located in Bucharest, within walking distance of Politehnica University, and the Botanical Gardens are also nearby. The area is well served by public transport and offers easy access to the city center. Campus 6 also features an amphitheater and a wide range of facilities such as restaurants, cafes, banks, fitness centers, football, and tennis courts.

The two buildings of Campus 6 will have the first 280m-long rooftop running track in Romania. Also, not only are they equipped with racks for bicycles, locker rooms, and showers, but also with parking facilities which include charging stations for electric vehicles.

The futureproof workplaces will be fully adapted to the needs and requirements of tenants, especially millennial employees. The buildings will be equipped with an innovative mobile application – Connected by Skanska. The application allows users to get to know the building and the area around it and will provide a virtual reception, making the guest experience simple and enjoyable. The buildings will also feature a parking system that will recognize license plates and allocate available spaces.

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