Deals



Globalworth Real Estate Investments Limited Acquires Green Court Bucharest Building A from Skanska Romania


Posted: 28th November 2014 08:35

Globalworth Real Estate Investments Ltd. (AIM: GWI) ("Globalworth" or "the Company"), the real estate investment company targeting opportunities in Romania and the broader SEE and CEE regions, is pleased to announce the acquisition of Skanska's first building in Green Court Bucharest. The gross consideration is Euro 44 million. Closing of the acquisition is scheduled for Q2 2015.

Green Court Bucharest is a prestigious, newly built A-class office property development, strategically located in Bucharest's new central business district, very close to Globalworth's existing Bucharest One development. Building A has a leasable area of 19,500 sqm and was officially opened at the end of October 2014. It is now 91% leased with Schneider Electric Romania and Orange Romania being the main tenants, on long term leases, and will be delivered fully leased on completion.  The property has received the LEED Gold pre-certification. Skanska's Green Court Bucharest project is comprised of three office buildings with a total leasable area of 52,000 sqm.
Dimitris Raptis, Deputy Chief Executive Officer and Chief Investment Officer of Globalworth Real Estate Investments commented:

"We are pleased to announce the acquisition of the first building of Skanska's Green Court development project. This prestigious newly built A-class office property is strategically located in Bucharest's new central business district, very close to our existing Bucharest One development. It benefits from top environmental credentials and is let to top-brand tenants on long term leases. This transaction constitutes an important milestone towards achieving our objective of owning the highest quality portfolio in the Bucharest office market."

Nestor Nestor Diculescu Kingston Petersen (NNDKP) acted as Globalworth's legal advisor on this transaction.

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