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Bogdan Nitulescu, Tremend
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Deutsche Bank buys top Bucharest office

PIPERA Deutsche Bank’s real estate division has purchased the largest office building in Bucharest, 57,000 sqm BOC Pipera, part of Upground complex, for 100 million Euro in the largest transaction on the real estate market this year.

November 2009 - From the Print Edition

Upground, which is owned by a group of investment funds represented by Ioannis Papalekas in Romania, also includes another office delivered last year and two residential buildings, which will also be acquired by Deutsche Bank for 340 million Euro, according to Ziarul Financiar.
Among similar projects, America House, developed by Polish real estate company Globe Trade Center (GTC) in Piata Victoriei, was sold to PBW II Real Estate Fund, managed by the French group Natixis for 120 million Euro. This remains the most expensive building transacted on the Romanian real estate market



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