Morgan Stanley's real estate unit takes over America House in Bucharest from AEW

Morgan Stanley’s real estate unit takes over America House in Bucharest from AEW

Morgan Stanley’s real estate investment division, in partnership with a group of Israeli investors, has purchased the America House office building from French investment fund AEW, according to a statement from Clifford Chance Badea law firm, which assisted AEW.

AEW also sold the Targu Mures Promenada Mall to the Hungarian group Indotek.

AEW is one of the largest real estate investment managers in the world, being controlled by the French financial group Natixis.

The investor entered Romania in 2007, taking over America House from the Globe Trade Center, and a few months later, he took over the Promenada Mall in Targu Mures from BelRom.

The fund managed by Morgan Stanley Real Estate Investing, which has assets under management worth EUR 45 billion, bought the office building in partnership with a Israeli investor group represented by David Hay, the former CEO of AFI Cotorceni.