Cushman & Wakefield: Romanian investment market shows resilience

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

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.

“In the last 12 months we managed to bring Morgan Stanley to Romania for the acquisition of America House, Resolution / Fosun (via Zeus Capital Management) for Floreasca Park, and we supported Equest in the sale of their main asset, Equest Logistic Park – three transactions worth over EUR 200 million, two of which were closed during the pandemic. By the end of the year, we expect to close more important transactions, so the investment volume could exceed the Eur 1 billion threshold in 2020, for the first time since 2014”, said Tim Wilkinson, Partner Capital Markets, Cushman & Wakefield Echinox.

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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