Poland's Global Trade Centers (GTC) Group has purchased the Belgrade Business Center (BBC) in Serbia from an Austria-based real estate asset manager.
Financial details were not disclosed.
The 18,000 m2 asset, located in New Belgrade's central business district, is leased to tenants including UniCredit Bank, NCR and Air Serbia. The deal makes GTC one of the dominant landlords in the region. JLL advised the vendor.
'This is a very exciting time for Serbia and the SEE region in general and we are seeing further interest in the region following two years of huge growth in the real estate sector,' commented Uros Grujic, head of capital markets for South Eastern Europe at JLL. 'This is the first major income-producing office asset to trade within the country proving that investors already present within the country and SEE region are satisfied with their operations and are willing to continue expanding.'
'After an exciting 24 months and with trading more than €700 mln worth of retail assets across the SEE region, it was important that we started to witness office transactions, especially in Belgrade where offices make up the vast majority of commercial real estate,' added Andrew Peirson, managing director SEE at JLL.
'After an extremely competitive bidding process it was very satisfying to witness interest coming from both local and regional investors, and also those from more established Western European markets,' he concluded.
