Sale of Floreasca Park office complex in Bucharest completed
Resolution Property and Zeus Capital Management have acquired Floreasca Park, a 37,500-sqm office complex in the center of Bucharest, according to a joint press release of the two buyers.
Andrei Chirileasa · Journalist
· Updated · 1 min read
Resolution Property and Zeus Capital Management have acquired Floreasca Park, a 37,500-sqm office complex in the center of Bucharest, according to a joint press release of the two buyers.
The seller was German group GLL Real Estate Partners, a member of the Macquarie Group.
Chinese conglomerate Fosun is behind the two buyers,Ziarul Financiar daily revealed in August.
Among the project's main tenants are Oracle, Allianz, Kellogg's, and BASF.
Ziarul Financiar daily estimates that the selling price was around EUR 100-110 mln.
GLL had bought the project from Portland Trust in 2015 for EUR 104 mln. Floreasca Park is the first investment made by Resolution in Romania and the fifth investment in the Zeus portfolio on Bucharest's real estate market. It is also the first joint acquisition of the two companies.
The buyers were advised by Kinstellar, Knight Frank, Ernst & Young, and Sentient, while Erste Bank financed the acquisition. GLL Real Estate Partners was advised by PeliPartners, Cushman & Wakefield Echinox, and Portland Trust as the property manager.
(Photo courtesy of the company)
