Real estate company Hili Properties, part of the same group which owns the McDonald’s Romania restaurants, recently bought the ART Business Center office building in Bucharest, with over EUR 30 million, it has announced.

Hili Properties and Premier Restaurants Romania, the McDonald’s owner locally, are part of Malta-based Hili Ventures. In Romania, Hili Properties also owns the buildings which host the 68 McDonald’s restaurants in Romania.

The nine-floor ART Business Center office building, located in northern Bucharest, covers a rentable area of 18,600 sqm. The three underground floors have 407 parking spaces. The building is currently fully leased. Ponderas Academic Hospital, which was recently taken over by the healthcare provider Regina Maria, is the main tenant. Intesa San Paolo Bank is also headquartered in the building, and so are Bet Active Concept, Kinetic Sport Medicine, Daas Impex, Topanel and Samsung.

“This acquisition is part of our strategy to include in our portfolio quality commercial buildings in booming cities. With long term rental contracts, important tenants and an attractive yield, ART Business Center has all the key elements for a good investment for us. Not only does it add significant value to our portfolio, now valued at some EUR 100 million, but it also expands our coverage in Romania. It is one of the most rapidly growing economies in Europe, and a market where our group Hili Venture is already largely present,” said  Margrith Lutschg Emmenegger, Hili Properties Chair and Chief Executive Officer.

The seller in this deal was FBC Exclusiv Company, owned by Romanian Ion Chirescu. Hili Properties used financing from Banca Carpatica, as well as its own funds, to pay for the office building, according to the Suciu - Popa law firm, which advised the Malta company in the transaction.

editor@romania-insider.com

(photo source: inchirierebirou.ro)