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Kinstellar advises S Immo AG on its EUR 97 million acquisition of two Bucharest Class A office buildings in the “Campus” complex, from Skanska

December 2020 – Kinstellar is delighted to announce that it has advised S Immo AG, a leading Vienna-listed real estate investor and developer, on the acquisition of Campus Buildings 6.2 & 6.3, two leading class A office buildings in Bucharest, Romania, from leading developer Skanska. The transaction value exceeded EUR 97 million and when closing is expected to occur in 2021, it will be one of the largest transactions in Romania.

S Immo AG is a leading real estate investment company focusing on Austria, Germany and CEE, with 70% of its portfolio consisting of commercial properties (offices, shopping centres and hotels). With the acquisition of Campus Buildings 6.2 & 6.3, S Immo AG has further strengthened its position as a leading prime property holder on the Romanian market. Located in the vicinity of Bucharest’s technical university, the two eleven-story A-class office buildings have a total leasable area of nearly 38,000 square metres and are fully let.

Victor Constantinescu, managing partner of the Bucharest office and head of its real estate practice, noted: “We started this deal long ago – before the Covid-19 pandemic – and was complex and intense with all of the moving targets of a forward purchase. The client’s team was outstanding, and we really wanted to close this transaction for them. I really believe that this transaction shows again that Kinstellar has one of the strongest and most experienced real estate practices in Romania, and comes on the heels of a slew of other recently closed deals. This deal shows also that Romania continues to be an attractive target for real estate investment. Congratulations to parties all involved – Santa Claus indeed came early this year.”

The Bucharest team comprised Victor Constantinescu and Senior Associate Cătălin Dinu, as well as other team members.

For more information, please contact Victor Constantinescu at victor.constantinescu(@)kinstellar.com.  

 

About Kinstellar

Kinstellar is a leading independent law firm in Emerging Europe, Turkey and Central Asia, with 11 offices and over 250 lawyers at regional level. It was created in November 2008 from the offices of the renowned international law firm Linklaters and is the promoter, in all of its areas of practice, of the high-quality standards that the lawyers have learnt in more than 15 years of Linklaters’ presence in the region. Kinstellar's Bucharest office has been constantly involved in the most important transactions in Romania.

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