Belgian developer Atenor has sold the Dacia One office project in Bucharest to Paval Holding, the owner of Dedeman, the largest local DIY retailer in Romania, for around €50 mln.
Located in the center of Bucharest, at the crossing between Calea Victoriei and Dacia Boulevard, the Dacia One office project has a leasable area of 15,000 m2 and integrates the building known as Casa Cesianu, which has been completely renovated. The main tenant of the fully pre-leased project is ING Tech, the global software development hub of the ING Group, alongside law firm Noerr and ESS.
Advisor Colliers brokered the deal.
‘The fact that the transaction took place in the context of a pandemic confirms the investor's confidence in the quality of the project and the potential of the office market and contributes to the liquidity of the local investment market,’ said Robert Miklo, director of Investment Services at Colliers.
With the Dacia One transaction, Paval Holding has sealed its third acquisition of office properties, after its previous investments The Bridge in Bucharest and The Office in Cluj-Napoca. The holding’s office portfolio now exceeds 150,000 m2.
