The recent transactions closed in the last weeks, with a total value of EUR 400 million, demonstrate that the investment market in Romania remains strong and attractive even in the Covid-19 pandemic period, Romania no longer being just seen as just a fringe market of Central Europe, according to Cushman & Wakefield Echinox real estate consultants, quoted by Business-Review.eu.
The joint-venture of Resolution Property and Zeus Capital Management recently acquired Floreasca Park office project from Bucharest, while AFI Europe finalised the acquisition of NEPI Rockcastle’s office portfolio in Romania, including Floreasca Business Park, The Lakeview, Aviatorilor 8 (all in Bucharest) and City Business Center from Timișoara.
Cushman & Wakefield Echinox assisted GLL Real Estate Partners GMBH in the sale of Floreasca Park project, a transaction that marks the entry of a major player in the local real estate market and reflects the main role of the real estate consulting company in Central and Eastern Europe in attracting new capital in the region from all around the world.
Until the start of the Covid-19 pandemic, at the end of the first quarter of 2020, the fundamentals for Romania, both macro-economic and specific for the property market were strong as they had been for the preceding years. Then COVID-19 struck.
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