M&A alert. Hili Ventures buys ART Business Centre in Bucharest from FBC Exclusiv Company

Newsroom 05/05/2017 | 13:12

Hili Properties, the real estate division of the Maltese group Hili Ventures, has taken over ART Business Centre from FBC Exclusiv Company for EUR 30 million.

The building, which a surface of 18,600 square meters, is 100 percent leased to Ponderas Academic Hospital, the largest private hospital in Romania, part of Regina Maria Private Healthcare Network, as the anchor tenant.

The 9-story building is in northern Bucharest.

Real Estate agency White Mountain Property brokered the sale of the nine-storey building located on the Nicolae Caramfil Street. According to the real estate agency, the building was sold by architect and property developer, Ion Chirescu, of the Art Group design and construction company. Chirescu also sold at the beginning of the Bucharest real estate crisis, the Buzesti Business Center, near Victoria Capital Square, following an estimated EUR 20 million euros transaction.

The deal came several months after Premier Capital, a division of Hili Ventures, finished the acquisition of the McDonald’s network in Romania.

“The transaction is a significant one for the real estate market, being the first of the series Hili Properties plc is planning for Romania, a market in which the group already has an extensive presence through the 68 McDonald’s restaurants across the country,” said law firm Suciu Popa, which assisted Hili on the transaction.

Margrith Lutschg Emmenegger, Hili Properties Chair and CEO, said that following the acqusition of this office building, the value of the firm’s property portfolio climbs to around EUR 100 million.