Skanska sells two office buildings in Bucharest to S IMMO for EUR 97 mln

Swedish construction group Skanska has sold the Campus 6.2 and 6.3 office buildings in Bucharest to Austrian real estate company S IMMO. The value of the transaction is EUR 97 million, making it the biggest sale carried out by Skanska in Romania.

Campus 6.2 and 6.3 represent the second phase of the Campus 6 office complex, located in the Central-West area of Bucharest. The two buildings have a rentable area of nearly 38,000 sqm and 463 parking spaces. Currently, 99% of the buildings are leased by companies such as Microsoft and Société Générale European Business Services.

This is the fifth sale that Skanska Romania has made in nine years of existence on the local market. In 2018, Skanska sold the project’s first building, Campus 6.1, to the Austrian group CA Immo for EUR 53 mln. The Swedish group started talks with S IMMO for the sale of the other two buildings before the pandemic.

“The sale of the two buildings is a very special one. It is one of the largest transactions in Romania, in the global context in which we still find ourselves, the largest transaction for Skanska, on the local market and the first concluded with S IMMO AG, by Skanska, globally. We always focus on building long-term partnerships, and in the case of Campus 6.2 and 6.3 we started this series together with Microsoft and Société Générale European Business Services and we continue now with S IMMO AG,” said Aurelia Luca, Executive Vice-President of Operations in Romania for the commercial development division of Skanska in the CEE.

“Campus 6.2 and 6.3 are a first-class addition to our portfolio in Bucharest. We are absolutely convinced that the office market in the Romanian capital will continue to grow strongly following a slight, pandemic-related stagnation. Once completed, the two properties will add long-term value to S IMMO’s CEE portfolio and will deliver positive contributions to earnings,” said Friedrich Wachernig, member of S IMMO AG’s Management Board, expressing his satisfaction with the acquisitions.

During the sale process, Skanska was assisted by PeliPartners and Jones Lang LaSalle.

(Photo source: courtesy of the company)