Positioned in the Politehnica metro station area of Western Bucharest, Campus 6.1 is a class A office building with an area of 22,600 square meters GLA, eleven floors above the ground and two levels of underground parking. Located at the intersection of two main boulevards, Iuliu Maniu and Vasile Milea, the property has access, in the immediate vicinity, to metro, trams and buses.
Campus 6.1 is the first phase of an office complex with four buildings, Campus 6, the second one developed by Skanska in Bucharest. Completion of the building is scheduled for the third quarter of this year. It is expected to be fully let by the end of the year.
"After acquiring Millennium Towers in Budapest in 2016 and Spire Building B in Warsaw in 2017, we continue to pursue our goal of continuously development and expanding our core portfolios in Central and Eastern Europe by acquiring Campus 6.1 in Bucharest. The multi-tenant property is well located and will be almost fully leased to take over, clearly supporting our overall financial goals, "said Andreas Quint, CEO of CA Immo.
Besides offices, the property will include a restaurant and a café with terraces, as well as green areas equipped with multifunctional furnishings and electrical outlets and Wi-Fi. Campus 6.1 will be equipped with an intelligent building management system, will include electric car services and bicycle rental facilities.
"Recent years have been a wonderful moment for the Romanian economy. Direct foreign investment flows stimulate the growth of the office market. The main investment funds are heading for the assets in Bucharest that offer benefits. We are glad to see increased interest in this vibrant market among tenants and buyers", said Katarzyna Zawodna, president and CEO of Skanska's commercial development division in Central and Eastern Europe.
During the sale process, CA Immo was represented by Clifford Chance (legal), PwC (fiscal, financial) and REC (technical). The legal advisers for Skanska were Peli Filip and Denton.
The Austrian Fund CA Immo owns office buildings in the Central European capitals, and owns real estate worth about 4.3 billion euros. The asset portfolio in Bucharest, which accounted for approximately 7% of the total portfolio of CA Immo, on 31 December 2017, consists of four office buildings as well as the development of the Orhideea offices in Bucharest. The book value of the investment portfolio of approximately 106,000 square meters was approximately EUR 260 million at 31 December 2017, with a 95,4% occupancy rate. (source: forbes.ro)
