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Adval Asset Management secured € 6.7 million financing for Banu Antonache Office Building JLL acted on behalf of the asset manager – Adval Asset Management

Date: 12/07/2016
Source: JLL
Adval Asset Management supported by JLL’s Capital Markets team has successfully secured the refinancing of €6.7 million for Banu Antonache Office Building.

Banu Antonache is a 4.500 m² office building delivered in 2006 and located in Floreasca, one of the most attractive areas in Bucharest. Among the main tenants, the project counts Opel, DTZ and BNP Paribas Group.

David Hayward, CEO of Adval, commented the transaction: ”Banu Antonache Office Building became a highly desirable boutique office, with a proven track record of tenant retention and the building occupancy of 100% over the past years. Our active management, together with the property strong leasing structure and its great location within the heart of Floreasca have made it a very bankable asset. Working again with JLL who also supported us in secured refinancing for Cascade Offices in August this year, we are pleased to have secured the refinancing of Banu Antonache, in such competitive terms before year end”.
Over the last two and a half years Adval has invested heavily in terms of equity and hard work to restructure the portfolio: selling assets, extending leases and drawing down new sustainable financing.

Following this success, Adval’s attention has now turned towards the investors looking to enter into the Bucharest office market with the aim of creating a new fund structure and leveraging Adval’s well-established management platform
Silviana Petre Badea, National Director Head of Capital Markets for JLL Romania declares: “We are delighted to have been able to support our client during their portfolio restructuring process. Within 4 months, JLL successfully secured on behalf of Adval, financing for Cascade and Banu Antonache through a professionally run, structured Debt Raising process led by Maxime OTTO of our Capital Markets team. This ensured best possible terms (margin and structure) supported by the quality of the sponsor. In this process, Adval’s professionalism and track record were key factors for the successful closing of the transaction”.

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Note to editors:

About Adval Asset Management
Adval Asset Management is an independent Romanian real estate management company set up and owned by a team of professionals with strong expertise in real estate management, business management, commercial and investment banking, real estate development, financing, tax, legal and marketing. With over €100 mn (98,000 sqm) of assets under management, Adval has become a market leader in the real estate management of office, industrial, retail and residential properties across Romania.
For further information, visit www.advalmanagement.com

About JLL

JLL is a financial and professional services firm specializing in real estate services and investment management. Our more than 58,000 people in 1,000 locations in 80 countries serve the local, regional and global real estate needs of those clients, growing our company in the process. In response to changing client expectations and market conditions, we assemble teams of experts who deliver integrated services built on market insight and foresight, sound research and relevant market knowledge. We attract, develop and reward the best, and most diverse, people in our industry, challenging them to develop enduring client relationships built on quality service, collaboration and trust.
For further information, visit www.jll.com.


Contact: Cristina Cuncea
Phone: +40 748 03 03 90
Email: cristina.cuncea@eu.jll.com



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