The transaction between NEPI and AFI is the largest in the history of the Romanian office market

NEPI Rockcastle, advised by Colliers International, and AFI Europe closed the largest office transaction in the history of the Romanian office market with a portfolio of EUR 307 million. The transaction accounts for a third of the estimated investment market in 2020, according to Business-Review.eu.

AFI Europe, owner of among others the largest mall in Bucharest, has completed the takeover of the portfolio consisting of four office projects from NEPI Rockcastle, in the most important office transaction in Romanian history. With a value of EUR 307 million, the transaction through which NEPI Rockcastle, advised by Colliers International, sold four office projects to AFI Europe, advised by JLL Romania, represents a third of the real estate investment market estimated at about one billion euro in 2020. The acquisition places Romania on the map of large strategic investors and has the potential to become a catalyst for significant new transactions in the future, being an important benchmark for local market liquidity and contributing to increasing investor confidence, according to Colliers International specialists.

The sale of the NEPI Rockcastle office portfolio to AFI Europe, first agreed on at the end of 2019, is probably the largest transaction with revenue generating commercial real estate assets in Romania, competing with major transactions in Central and Eastern Europe. In addition, it is the most important strategic sale of a portfolio brokered by Colliers International in Romania.

“The transaction is a benchmark not only in value and complexity. The fact that it was completed in an economic context marked by Covid-19, under the terms initially agreed upon, confirms the investor’s confidence in the potential of the assets and the market. At the same time, it proves that there is liquidity in the local real estate sector, being a reference for future transactions and contributing to increasing confidence of potential new investors in Romania”, said Robert Miklo, Director Investment Services at Colliers International.
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