Allianz-Țiriac Asigurări, one of the leading insurance companies on the local market, has successfully completed the sale of its two former headquarters located in the Victoriei Square area of Bucharest, through transactions brokered by the Cushman & Wakefield Echinox real estate consultancy company.

The property on Căderea Bastiliei Street, of approximately 6,000 sqm GLA, was acquired by Praktiker Real Estate, a company owned by businessman Omer Susli. The second building, located on Grigore Alexandrescu Street with a leasable area of 4,000 sqm, was taken over by Primavera Development, a developer with extensive experience in office buildings and premium residential projects.

Throughout the process, Allianz-Țiriac Asigurări was advised by the real estate consultancy Cushman & Wakefield Echinox. The team involved in the transaction included Cristi Moga (Head of Capital Markets), Mihaela Pană (Partner, Private Investments), and Alexandru Mitrache (Head of Transactions Land & Investment).

Mihaela Pană, Partner, Private Investments, Cushman & Wakefield Echinox: “These transactions confirm the dynamism of the Romanian investment market when it comes to centrally located assets, which continue to generate strong interest from tenants. We are seeing consistent appetite from local investors in properties that, through renovation investments, can be repositioned on the market and whose value can increase over time.”