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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Austrian real estate company CA Immo contemplates exit from Romanian market

Austrian real estate company with a focus on office segment CA Immo announced that it is evaluating all strategic options for the Romanian market, including a potential sale of the entire portfolio.

The cash flow from operations will fall below target because of the adverse conditions on the rental market, the company explains, speaking of its entire portfolio located in Germany, Austria as well as Central and Eastern Europe.

“The final impact of the pandemic and its economic consequences cannot be conclusively assessed in the recent light of negative developments, but are continuously monitored by CA Immo,” a corporate report, quoted by Economica.net, reads.

Earlier this year, CA Immo made its exit from the Slovak market, where it sold an office project with a leasable area of 25,000 square meters.

CA Immo is the fourth-largest office owner in Romania, after Globalworth, AFI Europe and Immofinanz. The leasable area of the office buildings in its portfolio, valued at EUR 390 mln (8% of CA Immo’s total portfolio), sum up to 165,000 square meters.

The Romanian portfolio includes office buildings Bucharest Business Park (26,700 sqm), Campus 6.1 (22,700 sqm), Europe House (16,400 sqm), Opera Center I ( 11,900 sqm), Opera Center II (3,500 sqm), Orchid Towers (36,300 sqm) and Riverplace (47,000 sqm).

(Photo: Nuthawut Somsuk/ Dreamstime)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Austrian real estate company CA Immo contemplates exit from Romanian market

Austrian real estate company with a focus on office segment CA Immo announced that it is evaluating all strategic options for the Romanian market, including a potential sale of the entire portfolio.

The cash flow from operations will fall below target because of the adverse conditions on the rental market, the company explains, speaking of its entire portfolio located in Germany, Austria as well as Central and Eastern Europe.

“The final impact of the pandemic and its economic consequences cannot be conclusively assessed in the recent light of negative developments, but are continuously monitored by CA Immo,” a corporate report, quoted by Economica.net, reads.

Earlier this year, CA Immo made its exit from the Slovak market, where it sold an office project with a leasable area of 25,000 square meters.

CA Immo is the fourth-largest office owner in Romania, after Globalworth, AFI Europe and Immofinanz. The leasable area of the office buildings in its portfolio, valued at EUR 390 mln (8% of CA Immo’s total portfolio), sum up to 165,000 square meters.

The Romanian portfolio includes office buildings Bucharest Business Park (26,700 sqm), Campus 6.1 (22,700 sqm), Europe House (16,400 sqm), Opera Center I ( 11,900 sqm), Opera Center II (3,500 sqm), Orchid Towers (36,300 sqm) and Riverplace (47,000 sqm).

(Photo: Nuthawut Somsuk/ Dreamstime)

andrei@romania-insider.com

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