Deloitte Romania assisted the Romanian entrepreneurial group Alfa Group in the acquisition of the largest part of the IRIDE Park project, located in the North of the Capital, along with two other properties in the proximity, from CPI Property Group, the Czech group that owns real estate projects in several countries in Central and Eastern Europe. The transaction was signed in October 2024.
The first half of 2024 ended with real estate transactions totaling 419 million euros in Romania, which represents a two and a half times increase compared to the volume of the same period last year, according to the Colliers report on the evolution of the real estate market in the first semester of this year. The outlook remains favorable, and with a significant volume of ongoing transactions, including some recent ones where owners want quick completion, reaching the €1 billion mark in 2024 seems an achievable goal, Colliers consultants say.
Romanian entrepreneur Alin Niculae, who controls the largest independent distributor of petroleum products, bought the myhive Iride (Iride Business Park) office building in Pipera.
A team of lawyers from Reff & Associates | Deloitte Legal and tax experts from Deloitte Romania assisted the local company Helinick, specialized in the design and implementation of electronic security, fire safety, communications and building management systems, one of the leaders of the local market in the field, in the sale to Convergint, one of the largest global players in this area. The transaction was completed in July 2024 and marks Convergint's entry into the Romanian market.
Real estate developer AFI Europe, a leading real estate player on SEE and CEE markets, has acquired the myhive Victoriei building on Calea Victoriei from Austrian commercial real estate group Immofinanz. The transaction, brokered by Colliers and Cushman & Wakefield Echinox, was valued at around 27 million euros and is part of IMMOFINANZ's strategy to optimize its portfolio.
Hili Properties plc, the real estate arm of Hili Ventures Ltd, has successfully secured the remaining 25% shareholding of Baneasa Real Estate SRL, the company which owns the MIRO Office Building in Bucharest, assuming full ownership as of August 1, 2024.
Vectr Holdings, through its subsidiary Vectr Realty, acquired 100% shares of the company that owns The Landmark office building in Bucharest, as part of its growth plans in Romania. The property was bought from funds managed by Revetas Capital and affiliates of Cerberus Capital Management.
Real estate investments in the first quarter of 2024 reached €205.75 million, up 33% from the same period last year, according to an analysis by Fortim Trusted Advisors, a member of the BNP Paribas Real Estate Alliance. The top real estate segments attracting the most investments are retail, hotels second and industrial third.
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