The level recorded is significantly lower than that recorded in the first quarter of 2017 (€ 143 million). However, representatives of JLL Romania consider that there are a number of transactions at different stages of negotiation which will probably be completed by the end of 2018.
The biggest transaction of the first quarter of the year was the acquisition by NEPI Rockastle, for the sum of 21 million euros, of the Festival Shopping Center in Sibiu. This is the second acquisition of the South African group in Sibiu after buying Sibiu Shopping City in 2015.
At the same time, the most notable transaction on the office space market was the acquisition by Hagag Development Europe of two historic buildings on Calea Victoriei which he plans to reconvert in office buildings. The transaction value is estimated at about 10 million euros. The two properties are Victoria 109 (formerly Petrom headquarters) and Victoriei 139.
The third transaction concluded during this period was the acquisition of the Magnolia Brasov commercial center by a local investor from Miller Developments for the amount of 4 million euros.
The total investment estimated for 2018 is over one billion euros. The second quarter is already better than the first in terms of real estate transactions, as Skanska sold an office building under construction in Bucharest to the Austrian group CA Immo for 53 million euros. (source: wall-street.ro)
