Situated in the northern part of the city, the building has nine floors and 18,600 rentable area, with a footprint of 3,400 square metres.
The three underground floors host 407 parking places.
Hili Properties and Premier Restaurants Romania are part of Hili Ventures, a group of companies headquartered in Malta.
Currently, the offices are fully let, the main tenant being Ponderas Academic Hospital, recently tookover by Regina Maria, Romania’s second largest private hospital network.
Intesa San Paolo Bank is the second largest tenant of ART Business Center, having its headquarters in the building. Bet Active Concept, Kinetic Sport Medicine, Daas Impex, Topanel and Samsung are also occupying office spaces in the building.
“This acquisition is part of our strategy to include in our portfolio quality commercial buildings in booming cities. With long term rental contracts, important tenants and an attractive yield, ART Business Center has all the key elements for a good investment for us. Not only does it add significant value to our portfolio, now valued at some EUR 100 million, but it also expands our coverage in Romania. It is one of the most rapidly growing economies in Europe, and a market where our group Hili Venture is already largely present,” said Margrith Lutschg Emmenegger, Hili Properties Chair and Chief Executive Officer.
JLL advised Hili Proporties in this transaction. Hili Properties, the real estate division of the company Hili Ventures, owns and manages a portfolio of commercial properties for rent in Latvia, Lithuania, Estonia, Malta and Romania.
The portfolio includes office buildings, offices in main commercial district and spaces hosting McDonald's restaurants. (source: profit.ro)