The majority of real estate consultants estimated that at the end of the year the value of transaction on the Romanian market would exceed EUR 1 billion, but until now, the numbers have not matched their predictions, says Business-Review.eu.
According to the consultants, the year started out well with the sale of Militari Shopping Center in West Bucharest to the South-African investment fund Mas Real Estate. The seller was the Israeli company Atrium European Real Estate, which withdrew from the local market for EUR 95 million.
These were the most important transactions of the first half of the year, with a total estimated at around EUR 328 million.
In the second semester there was the EUR 200 million transaction between Romanian companies Dedeman and Forte Partners for The Bridge, followed by the EUR 10 million purchase of a 50,000 sqm land plot by Speedwell from Immofinanz, and another land acquired in Bucharest, the 47,000 sqm and EUR 23 million land plot behind AFI Cotroceni Mall, which was taken over by AFI Europe.
Returning to offices, Czech investor PPF signed the acquisition of Crystal Tower office for a value between EUR 40 and 50 million, from Search Corporation, a company controlled by businessman Michael Stanciu.
Notable transactions also took place in other Romanian cities: in Cluj-Napoca, British fund Property First acquired Maestro Business Center – an almost 7,000 sqm office building – for an estimated EUR 5 to 7 million.
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