Adventum enters the Romanian market in the largest office investment in 2021: CBRE
CBRE Romania assisted Adventum Group, a CEE focused real estate investment manager, entering on the Romanian real estate market through the acquisition of Hermes Business Campus, an office complex located in the north Bucharest. Adventum’s first investment in Romania marks the biggest office transaction in Bucharest in 2021 as well as the largest investment of a new real estate player in Romania since 2018.
“The record size of this deal closed by our client, Adventum, is an important sign of trust in the Romanian market, being the largest new entry on the local market in the last three years. Is also a vote of confidence for the office leasing market. Investors are reverting to this segment with confidence and we expect it to be their main point of focus over the next year”, said Mihai Patrulescu, Head of Investment Properties, CBRE Romania.
With a total surface of 75,000 square meters, Hermes Business Campus (HBC) was acquired by Adventum for the Quartum real estate fund, which now has more than 200,000 square meters of leasable area in Poland, Hungary and Romania. The two first buildings HBC 1 and HBC 2 are fully leased to renowned tenants such as DB Schenker, Luxoft, Lavalin, Mondelez, the Dutch Embassy and Xerox and the last HBC 3 building will continue to be fully occupied by Genpact, for at least the next seven years.
“It is important to notice that both transactions of Hermes Business Campus and Campus 6.2 and 6.3, where CBRE also assisted the buyer, mark a return of a trend in the office market: the trading of large, multi-building projects. This is a natural response to the large leasing demand we have seen since 2016, when there was a constant flow of new tenants setting up businesses in Romania”, added Mihai Patrulescu.
The total real estate investment in Romania reached EUR 303.6 mln in the first half of the year, 21% below the level registered on the same period last year, according to the latest data from CBRE Research. During the first six months, were signed seventeen transactions with an average ticket size of EUR 17.8 mln, being thus considered a very dynamic first half of the year.
Bucharest attracted more than half of the investment volume, respectively 67%, in five transactions with office and hotels, while twelve deals representing 33% of the total volume were closed in regional cities, which attracted investors mainly with industrial schemes.