Wolf Theiss assisted funds advised by Revetas Capital Advisors LLP, a real estate investment advisor focused on the CEE market, in the acquisition of The Landmark, a 23,500 sqm GLA premium office complex located in Bucharest’s Central Business District.
The transaction was closed at the end of October 2018 in Bucharest, with Revetas successfully acquiring the shares in the company which owns the office complex composed of 3 office buildings.
Wolf Theiss assisted Revetas in all the stages of the acquisition process, from the negotiation and signing of the sale purchase agreement and the ancillary transactional documentation in relation to the transfer of the target shares, conducting the legal due diligence investigation, assistance in the refinancing of existing debt, to the preparation of the necessary closing formalities and ultimately to the successful acquisition of the Landmark.
”We are delighted to have been able to assist Revetas in this new acquisition in Romania, following our successful cooperation with Revetas last year. We feel honoured that Revetas selected Wolf Theiss again for their expansion on the Romanian market. It was another intense and rewarding transaction! For us the acquisition of the Landmark by our client Revetas was of paramount importance,” stated partner Ileana Glodeanu, coordinator of the Corporate/ M&A team of the Wolf Theiss Bucharest office.
Founded in 1957, Wolf Theiss is one of the leading European law firms in Central, Eastern and South-Eastern Europe with a focus on international business law. The company has 340 lawyers in 13 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine.
Revetas financed the takeover of The Landmark with EUR 43 million from pbb Deutsche Pfandbriefbank.
”Revetas is excited about the addition of Project Marina as another high-quality asset to our portfolio. It was a pleasure to work with Wolf Theiss on this transaction and we are looking forward to continuing creating value for our tenants and investors in Romania, one of the fastest growing economies in Central and Eastern Europe,” states Kiril Klaturov, general counsel and partner of Revetas.
Revetas is a real estate investment manager executing a specialised strategy targeting distressed, undervalued, value-added and opportunistic assets in Central and Eastern Europe (‘CEE’). The firm was founded in 2012 and is led by managing partner Eric Assimakopoulos together with his senior management team, who have been operating in the region for over 16 years. The business operates from London, Vienna and Luxembourg.