Romania’s biggest deals of 2016: Real Estate

Newsroom 17/02/2017 | 10:57

Here are the main deals in the food and beverages sectors that were registered last year. For a forecast regarding the M&A market in 2017, you can read this exclusive article.


NEPI merges with Rockcastle

Value of transaction: N/A

Legal team for NEPI: Clifford Chance Badea

Legal team for Rockcastle: Dentons

Description: The South African investment fund New Europe Property Investments (NEPI), the largest real estate investor in Romania by assets, announced a framework agreement to merge its business with South African fund Rockcastle, of similar size and activity in Poland.

The resulting new entity will be the largest CEE retail real estate company, and one of the top such entities in continental Europe.


Smartown Investments buys insolvent Swan Office Park

Value of transaction: EUR 30.3 million

Legal team buyer: Wolf Theiss Rechtsanwälte GmbH & Co KG

Legal team seller: CITR

Description: The insolvent office project Swan Office & Technology Park was sold by Casa de Insolventa Transilvania, the insolvency administrator for the real estate project. The final sale price was around 50 percent above the price approved by creditor.


Growthpoint Properties buys 26.8 percent stake in Globalworth Real Estate Investments

Value of transaction: EUR 186.4 million

Legal team buyer: Wolf Theiss Rechtsanwälte GmbH & Co KG (local counsel)

Simmons & Simmons (UK counsel)

Legal team seller: N/A

Description: Globalworth Real Estate Investments issued shares in a bid to raise EUR 200 million. The investment will support Globalworth’s development projects and could fuel new acquisitions in Romania and across the broader Central and South East Europe regions. The transaction will also allow Growthpoint to grow its investment position in the region.


Business center sold to Egrom Invest Fund

Value of transaction: N/A

Legal team buyer: N/A

Legal team seller: Wolf Theiss Rechtsanwälte GmbH & Co KG SCA

Description: RI Property SPV 1 sold Scoala Herastrau Business Center, an office building in Bucharest, to Romanian investment company Egrom Invest Fund. The building comprises a total leasable area of 3,500 sqm on the ground and five upper levels arranged on regular, rectangular shaped floor plates of approximately 700 sqm.


GIC buys P3 from TPG Real Estate and Ivanhoe Cambridge

Value of transaction: EUR 2.4 billion

Legal team buyer: Dentons

Legal team seller: N/A

Description: GIC, Singapore’s sovereign wealth fund, completed the purchase of P3, one of the main pan-European owners, developers and managers of logistics properties, from TPG Real Estate and Ivanhoe Cambridge. In Romania, P3 owns logistics park P3 Bucharest, which was taken over from Immobilien Anlagen AG in early 2015. This is the largest European real estate deal in 2016, involving P3’s 163 warehouses in 62 locations, across nine countries.The park, which is the biggest in Romania, has 11 buildings and covers 305,000 sqm. All in all, P3’s asset base comprises 163 warehouses with an average age of 8.4 years, totaling 3.3 million sqm across nine countries.


Global Finance sells Automatica/former Ford factories

Value of transaction: N/A

Legal team buyer: Popovici Nitu Stoica & Asociatii

Legal team seller: Bondoc si Asociatii

Description: Global Finance, through its real estate division, sold the land of Automatica/former Ford factories in Calea Floreasca (Bucharest) to Auchan, One United (a company specialized in luxury residential projects) and a company specialized in office buildings. The three investors intend to develop a mixed project on the former platform.


PPF Real Estate buys Metropolis Center Office

Value of transaction: EUR 48 million

Legal team buyer: KPMG Advisory (financial) and DLA Piper (legal)
Legal team seller: N/A

Description: Czech investment fund PF Real Estate, controlled by the richest man in the Czech Republic, Petr Kellner, bought the Metropolis Center office project in Bucharest. Metropolis Center comprises office and retail spaces and its tenants include EBRD, DLA Piper and Reckitt Benckiser. Moreover, DLA Piper was the legal adviser of the selling transaction.


NEPI buys plot of land from Belrom

Value of transaction: EUR 10 million (market estimate)

Legal team buyer: Reff & Associates

Legal team seller: Voicu & Filipescu

Description: South Africa-based New Europe Property Investments (NEPI) took over 12 hectares in Ramnicu Valcea from Belrom. According to media reports, NEPI could build a new retail park in the area.


NEPI buys Sibiu Shopping Center from Argo Group

Value of transaction: EUR 100 million

Legal team buyer: Reff & Associates, EY Romania (financial)

Legal team seller: PeliFilip

Description: NEPI bought Sibiu Shopping Center from investment company Argo Group. Shopping City Sibiu has a leasable area of 79,000 sqm. The center was opened in 2006 and was later expanded.


Samsic buys controlling stakes in three Real Estate Service Group companies

Value of transaction: EUR 5 million (market sources)

Legal team buyer: Schoenherr and in-house Samsic France

Legal team seller: Reff & Associates

Description: French player Samsic took over 80 percent of three companies belonging to the Real Estate Service Group (RESG). The group is controlled by Dutchman Ben Martens. The three companies provide landscaping, cleaning and building management services.


GTC Group buys two office buildings in Bucharest

Value of transaction: N/A

Legal team buyer: PeliFilip, EY Romania (financial)

Legal team seller: Schoenherr

Description: Immigon portfolioabbau ag (formerly Österreichische Volksbanken-Aktiengesellschaft) sold two modern A-class buildings in Bucharest to the local subsidiary of the GTC Group. The transaction involved the sale of the buildings Premium Plaza and Premium Point, in central Bucharest. The buildings have a total leasable area of 15,000 sqm, and are considered to be among the top five office buildings of their size in the city.


IKEA Group buys 12,800 hectares of forests in Romania from Prokon Hit Timber SRL

Value of transaction: n/a

Legal team buyer: n/a

Legal team seller: Dentons advised Prokon Abgeltungsglaubiger SPV

Description: Dentons advised Prokon Abgeltungsglaubiger SPV in connection with the sale of forestry land by Prokon Hit Timber SrL to Ikea


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