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CA Immo takes over Skanska’s Campus 6.1 in Bucharest for EUR 53 M

CA Immo takes over Skanska’s Campus 6.1 in Bucharest for EUR 53 M

CA Immo has acquired Campus 6.1 office building in Bucharest from Swedish Skanska, following a transaction of EUR 53 million, a press release informs. The closing of the transaction is subject to the conditions usual for such deals and is expected end of 2018.

“Having acquired Millennium Towers in Budapest in 2016 and Spire Building B in Warsaw in 2017, we continue to pursue our target of continuous development and expansion of our CEE core market portfolios with the purchase of Campus 6.1 in Bucharest. The multi-tenant property is very well located and will be nearly fully let by takeover, clearly supporting our overall financial goals.” Andreas Quint, CEO of CA Immo.

Campus 6.1 is an A-class office development, offering 22,000 sqm GLA. The development is located in the Central West area of Bucharest in the proximity of the Polytechnic University. Completion is scheduled for Q3 2018; full occupancy of the building is expected by the end of the year.

“Recent years have been a great time for Romanian economy. Continuous FDI flows stimulate office market growth. Core investment funds are shifting towards Bucharest assets which offer favorable returns. We are happy to see growing interest in this vibrant market among tenants and buyers,” adds Katarzyna Zawodna, President and CEO of Skanska’s commercial development business in CEE.

Campus 6.1 is the first phase of a four-building office complex Campus 6, the second Skanska’s development in Bucharest. Campus 6.1 will comprise approximately 22,600 sqm, with eleven floors above ground and two levels of underground parking, including an intelligent parking system.

 

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