Largest Romanian investment deal brokered by DTZ

Global real estate adviser DTZ has completed the largest office investment deal in Romania on behalf of Europolis RE Asset Management. The transaction involves an investment of EUR 90 mln in order to complete the purchase of the first-phase of Sema Parc development, Freeman European News has reported.

The former industrial site, located in Bucharest, is currently being redeveloped to house two office buildings with a 42,000 m² lettable area. The Courtyard building will provide around 15,000 m² of space and is due for completion in late 2007, while the 15-storey City building will offer a 27,000 m² area for office use to be completed in mid-2008. The development includes 700 parking places on a two-level basement.

The deal follows the purchase by Europolis of Europe House’s portfolio for a total EUR 30 mln in 2003, and the forward purchase of CEFIN Logistics Park in 2004, worth up to EUR 140 mln.

Tim Wilkinson, managing director of DTZ in Romania, has said 'this landmark deal means DTZ is the leader in the Romanian investment market for the third time in four years. We expect to have advised our clients on transactions totalling over EUR 200 mln by the end of the year'.