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Colliers International to manage Phoenix Tower and Construdava office buildings in Bucharest

The real estate consultancy company Colliers International Romania was appointed by the Adam Europe Group to take over the management of Phoenix Tower and Construdava office buildings, a press release shows.

2017-06-29 13:54:03

With these two new projects, Colliers International strengthens its position on the property management market in the office sector and the overall managed portfolio reaches a total of over 300,000 leasable sqm.

Construdava is located in north-eastern Bucharest, on Pipera-Tunari road. The building has a gross leasable area of approximately 9,400 sqm and its main tenant is Metro Systems Romania, the IT division of the Metro Group. The Phoenix Tower project is located in the central area of Bucharest, near Bucharest Mall. With a gross leasable area of approximately 10,000 sqm, the building's main tenants are companies such as Zitec, Netop and EBS Romania.

"The seven years of activity on the property management market have allowed the Real Estate Management Services department to constantly increase and diversify its managed portfolio, which has started from office buildings and has expanded to industrial parks and private hospitals," said Stefania Baldovinescu, Senior Partner and Director of Real Estate Management Services at Colliers International. "The office segment remains, however, representative and very well developed in our portfolio which, with the addition of Construdava and Phoenix Tower, reaches a total of over 300,000 sqm."

Adam Europe, through Hoshen Holdings SRL, managed by Isaac Cohen Hoshen as CEO, acquired Phoenix Tower and Construdava in 2016 and 2017 respectively, and the two transactions were advised by Colliers International. The double acquisition marks the re-entry on the Romanian market of the group, which prepares the development of new residential projects, such as the Reveria project in eastern Bucharest, and the expansion of its office portfolio.

The portfolio managed by Colliers International's Real Estate Management Services team includes, besides Phoenix Tower and Construdava, office projects such as Art Business Center (Ponderas Academic Hospital), Hermes Business Campus, Green Court, Ethos House, Polona 68, Allianz Office Building Brasov and Stefan cel Mare Building, as well as three industrial parks in Timisoara, Brasov and Arad.



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