Forte Partners, one of the most active office real estate developers, has signed the full sale of the office project The Bridge to Dedeman Group, producing the largest real estate transaction of the year.
The Bridge project, to be developed in three phases that will create approximately 80,000 sqm, will be taken over by Dedeman Group. The first phase was rented to tenants such as BCR and IBM, the second phase is under construction and was pre-leased to UPC, Schlumberger and Medicover, and the third phase is in the preparatory stage.
“This transaction defines a new milestone for the local real estate market, as well as for the Romanian economy. We have shown that a Romanian developer can compete with corporations and international groups on a very dynamic market and be able to finalize substantial transactions. We thank Dedeman for choosing to take the first step and enter this market segment with The Bridge project,” said Geo Mărgescu, CEO and co-founder of Forte Partners.
“The Bridge is one of the most attractive projects on the real estate market and its acquisition will consolidate Dedeman’s activity. The high standards of sustainability and efficiency of the office buildings developed by Forte Partners are the same that we pursue in all of our business. We hope to mark a new start for Romanian entrepreneurs, a moment that will provide more confidence in the development and acquisition of large projects” said in his turn Dragoș Pavăl, CEO of Dedeman Group.
Dedeman Group, with a turnover of over EUR 1.37 billion in 2017, is owned by the Dragoș and Adrian Pavăl, the most prominent Romanian entrepreneurs. Dedeman is the largest Romanian employer, with over 10,000 employees, with the largest retail network, comprising 48 DIY stores, two logistics centers and a self-owned fleet. Recently, Dedeman Group took over 50% of the Cemacon brick maker in Cluj-Napoca. The transaction included Cemacon SA and Cemacon Real Estate.
The Bridge project received the LEED Platinum certification with the highest LEED certification score (Leadership in Energy and Environmental Design) granted by the US Green Building Council (USGBC) for a Romanian property.
Forte Partners, founded in 2014, is one of the most important real estate developers in Romania. The company has developed a portfolio worth over EUR 200 Million, in both office and residential sectors.
Forte Partners has developed office projects such as Ștefan cel Mare Building, Nova Building and The Bridge 1, as well as the residential building London 27 and has under development projects such as The Bridge 2, Calderon 80 and Aviației Park. Forte Partners has received national and international recognitions for the architectural quality of its projects – Bucharest Architecture Annual, Housing Category, in 2017 for London 27, while Ștefan cel Mare Building received The American Architecture Prize 2017 and The Best Small Office Development of the Year.