Forte Partners to invest EUR 100 million in two office buildings in central Bucharest

Aurel Dragan 23/09/2019 | 09:56

Forte Partners announces investments of around EUR 100 million in revitalizing the central area of ​​Bucharest with two new office buildings, one of which has obtained BREEAM Excellent certification.

The Matei Millo project, worth EUR 40 million, was certified BREEAM Excellent with the highest score in Bucharest and the Tandem project, with a market value of EUR 65 million, are two office buildings that will revitalize and modernize the central area of ​​Bucharest.

“Work on the Matei Millo project, a nine-storey office building, was started in January 2019, and the decommissioning work on the old Tandem building was recently started,” said Geo Margescu, the CEO and co-founder of Forte Partners. “Matei Millo, a EUR 40 million office building, has received a BREEAM Excellent certification with a score of 83.2, the highest ever awarded for an office project in Bucharest. We want to develop sustainable, impactful projects that transform the city and shape the lives of those who work or live in them. In the development of Matei Millo and Tandem, we are taking into account all the characteristics of modern office buildings, including energy efficiency, concern for the local community and the well-being of the employees who will work there.”

Matei Millo and the Tandem building are part of the Sector 0 project, a Forte Partners initiative on the premium office segment. Sector 0 involves the development of office buildings for creative communities – both companies and those who work on their own. Sector 0 will demarcate an area of ​​buildings perfectly integrated in the surrounding architectural style (art deco), in the vicinity of the representative building of the Palace of Phones.

As part of this initiative, the Matei Millo office building, with an art deco architecture that has been reinterpreted so as to integrate the project into the characteristic urban space of the area, whose main landmark is currently the Palace of Phones, will be delivered in the third quarter of 2020, while the Tandem project is due for completion in December 2021.

The BREEAM Excellent certification was awarded to the Matei Millo building following an assessment based on ten criteria: Management, Health, Energy, Transport, Water consumption, Used materials, Waste, Land use & Ecology, Pollution and Innovation.

The Matei Millo office building has a total rentable area (GLA) of 9,000 square meters, a share of green spaces in the total area of ​​common areas of over 30 percent, a height regime of 3S + GF + 9E, 130 parking spaces, and easy access to all means of public transport (buses, trolleybuses, metro).

Forte Partners obtained in June 2019 the LEED Platinum certification with a score of 84 for The Bridge 2 office building, which has been fully completed and leased. The first phase of The Bridge received a LEED Platinum certification with a score of 82.

Last year, in August, Forte Partners signed the full sale of The Bridge office project to Dedeman group, recording the most important real estate transaction of 2018. The first phase was leased in full to tenants such as BCR and IBM. The second phase, with a total rentable area of ​​21,000 square meters, is completed, fully rented and handed over to tenants, including companies such as UPC, Schlumberger and Medicover.

Forte Partners, founded in 2014, has so far developed a portfolio of projects worth over EUR 200 million, both in the office and residential sectors, and is developing projects worth another EUR 200 million. The company has developed the Stefan cel Mare Building and The Bridge 1, The Bridge 2 as well as the London 27 residential project and is currently developing the Aviation Park residential project, The Bridge 3 building and the Matei Millo and U-Center office projects.

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