The real-estate consultancy company CBRE took over the administration of the NEPI Rockcastle portfolio of office buildings in Bucharest, totaling 70,580 square meters. This is the first time when NEPI Rockcastle outsources the management of the properties. Thus, CBRE reaches a management portfolio of 770,000 sqm both offices and retail.
NEPI Rockcastle gave the management of Floreasca Business Park, The Lakeview and Aviatorilor 8 buildings to CBRE. The agreement between the two companies is a first on the Romanian market, being the first time when the South-African investment fund NEPI Rockcastle, the biggest owner of commercial centers in Romania and in South-East Europe.
”CBRE and NEPI Rockcastle closed a strategic partnership in 2015 when we dealt with the renting of City Business Center in Timisoara. The fact that NEPI trusted us and decided to outsource for the first time the management services is a proof for the positive collaboration between our companies,” said Luiza Moraru, management division coordinator for CBRE in South-East Europe.
”The foundation of a solid business relation comes from knowing your partner and its qualities. CBRE is the biggest real estate consultant globally and we had the opportunity to see how it handles different market segments. We chose them for the management outsourcing of the buildings we have in Bucharest because we fully trust that they will coordinate all the activities needed for a good functioning of the properties,” said Marius Barbu, asset director at NEPI Rockcastle.
NEPI has an investment portfolio in 9 countries from Central and Eastern Europe worth EUR 5.9 billion. If owns and manages 51 commercial properties with a traffic of 307 million visits in 2018.
CBRE has a team of 109 people and manages 770,000 square meters located in 27 reatail and offices properties with a total number of 1,700 renters. The company aims for a 10 percent growth in revenues for 2019 after a turnover of EUR 13 million last year.