JLL has successfully secured 11 million euro to refinance the Lascar 31 Business Center Bucharest on behalf of the manager of the project, ForeVest Capital Partners. Intesa Sanpaolo Bank Romania provided the loan for the property, which consists of 9,250 square meters rentable area.
Lascar 31 Business Center is located in the central area of Bucharest. Among the main tenants, the project counts European Commission, European Parliament, World Bank and European Investment Bank.
Managing Director Silviana Petre Badea and Associate Director Maxime Otto represented the JLL team during the financing process.
"The project is located in the immediate vicinity of Universitate’s square and in this respect enjoys a perfect accessibility both by car and public transport. The asset is currently almost fully let to institutional, high-profile tenants. The excellent location and the very good specifications of the project drove significant demand for this office building. We are very glad that we found the right partner for the project and we trust in a long partnership between JLL and ForeVest Capital Partners”, commented Silviana Petre Badea, managing director, head of Capital Markets JLL Romania.
JLL Capital Markets provides capital solutions for real estate investors and occupiers. In the last 15 months, JLL Capital Markets advised investment, M&A and debt transactions in total value of over 300 million euro in Romania.
”We are very appreciative of JLL support and involvement in a very complex transaction and also to Intesa Sanpaolo Bank Romania to provide financing for this acquisition. By taking over Lascar 31 Business Center we hope we will achieve one important goal: to make the building the hub of prestigious European and International Institutions. This is also in line with the new business lines we intend to develop such as Real Estate and NPL since becoming an independent platform”, says Doina Popescu, Managing Partner at ForeVest Capital Partners.
”We want to be next to our clients and we are happy that our support has contributed to the successful closing of the transaction. We reaffirm our goal to offer our customers high quality counselling, and access to a worldwide products and services portfolio offered by one of the largest banking group, Intesa Sanpaolo Group”, explains Florin Sandor, Head of Corporate and SME Division Intesa Sanpaolo Bank Romania.
Note to editors:
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2017, JLL had revenue of $7.9 billion and fee revenue of $6.7 billion; managed 4.6 billion square feet, or 423 million square meters; and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000. As of December 31, 2017, LaSalle had $58.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.ir.jll.com.
ForeVest Capital Partners is an independent alternative investment firm with deep roots in Central and Eastern Europe dating back to 1998. Headquartered in Warsaw, with presence in Bucharest and New York, ForeVest has invested more than $1.2 billion in 22 companies across the region. ForeVest Capital Partners is focusing on growth equity investments in mid-market companies across Central and Eastern Europe. In addition, ForeVest manages private equity investments in other emerging markets as well as emerging market non-performing loan portfolios. ForeVest seeks to partner with entrepreneurs and management teams to transform local mid-market companies into regional champions.
About Intesa Sanpaolo Bank Romania
Intesa Sanpaolo Bank Romania is focused on Corporate and SMEs segments offering financial solutions to local and foreign entrepreneurs who want to grow healthy their business. Intesa Sanpaolo Bank si part of one of the first eurozone banking groups and leader in Italy in all areas of activity (retail, corporate and wealth management). Intesa Sanpaolo Group provides services to 11.1 million customers through a network of over 3900 units in Italy, with market shares of at least 12% in most Italian regions.
Intesa Sanpaolo is present in Central and Eastern Europe and Middle East and North Africa, with over 1,100 branches and 7.7 million subsidiaries of the Group's subsidiaries operating in the banking sector in 12 countries.
In addition, an international network of corporate customer support specialists is present in 28 countries, particularly in the Middle East and North Africa, and in areas where Italian companies are most active, such as the United States, Brazil, Russia, India and China.