Global real estate advisor CBRE has advised CA Immo on the sale of its Romanian office platform to Pavăl Holding. The portfolio is comprised of seven office properties located in Bucharest, as well as the Romanian management team. Its acquisition makes Pavăl Holding the city’s second-largest office landlord.
“This is the largest real estate transaction ever in Romania as well as the largest investment ever made by a 100% Romanian company. The CA Immo portfolio, which we represented with complete services, is an extremely solid one, assembled over 20 years. It has an impeccable mix of international and national tenants, buildings with a strategic location and an exceptional retention rate. This is more than a record transaction, it is a defining moment for the Romanian real estate market,” said Laura Dumea-Bencze, Director Investment Properties, CBRE Romania.
CA Immo’s Romanian portfolio is comprising seven office buildings, all located in prime areas of Bucharest, with a total leasable area (GLA) of approximately 165,000 sqm.:
- Bucharest Business Park (26,700 sq m)
- Campus 6.1 (22,700 sq m)
- Europe House (16,400 sq m)
- Opera Center I (11,900 sq m)
- Opera Center II (3.500 sq m)
- Orhideea Towers (37,000 sq m)
- Riverplace (47,000 sq m)
CA Immo, listed on the Austrian stock exchange, is one of the most important office landlords in the local market and divested its entire portfolio of real estate assets in Romania as part of its ongoing capital rotation programme.