International advisory firm JLL has successfully represented PPF Real Estate in the acquisition of Metropolis Center, an office complex in the city center of Bucharest, from Soravia. This is the first PPF Real Estate’s acquisition on the Romanian real estate market.
JLL continues to attract new players on the Romanian market after in the last year represented companies like GLL, Logicor and P3 in acquiring real estate projects in Romania.
”Romania is entering on the radar of other investors outside the few active in recent years. Attracting new names on the Romanian market is one of our main concerns and we are glad that we managed to convince so far investors like PPF or Logicor that Romania offers attractive opportunities for investing their money”, comment Silviana Badea, National Director, head of Capital Markets Department JLL Romania.
The property investment volume in the first nine months of 2016 is estimated at over €400 million for Romania, and for entire year we forecast €600 – 700 million.
“Signals investors are good and we saw that including at the Expo Real (one of the largest Real Estate exhibitions in Europe). For Romania was the best exhibitions I have participated in recent years in terms of investor’s discussions and reactions regarding our country considering compressed yields in the rest of Central and Eastern Europe. The problem remains to find products for these investors”, adds Silviana Badea.
Metropolis Center was sold by Austrian firm Soravia and have an area of 19,000 sq m, located close to Calea Dorobanți, on Iancu de Hunedoara Boulevard, in the city center of Bucharest. Among the tenants are EBRD, DLA Piper, Parexel, ING and Reckitt Benckiser. The building was developed on the site of the first printing office in Bucharest – Cartea Romaneasca.
The largest real estate transaction concluded this year in Romania was the acquisition of Sibiu Shopping City by NEPI from ARGO Real Estate, totaling €100 million.
Contact: Cristina Cuncea
Phone: +40 748 03 03 90
Email: cristina.cuncea@eu.jll.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
