CA Immo has acquired Campus 6.1 office building in Bucharest from Skanska for c.€53m. The closing of the transaction is subject to the conditions usual for such transactions and is expected by the end of 2018.
Campus 6.1 is an A-class office development, offering 22,000 m² GLA. The development is located in the Central West area of Bucharest in the proximity of the Polytechnic University. Completion is scheduled for Q3 2018; full occupancy of the building is expected by the end of the year. During the sales process, CA Immo was advised by Clifford Chance (legal), PwC (tax, financial) and REC (technical). Legal advisers for Skanska were Peli Filip and Dentons.
Andreas Quint, CEO of CA Immo, said: “Having acquired Millennium Towers in Budapest in 2016 and Spire Building B in Warsaw in 2017, we continue to pursue our target of continuous development and expansion of our CEE core market portfolios with the purchase of Campus 6.1 in Bucharest. The multi-tenant property is very well located and will be nearly fully let by the takeover, clearly supporting our overall financial goals.”
“Recent years have been a great time for Romanian economy. Continuous FDI flows stimulate office market growth. Core investment funds are shifting towards Bucharest assets which offer favourable returns. We are happy to see growing interest in this vibrant market among tenants and buyers,” adds Katarzyna Zawodna, President and CEO of Skanska’s commercial development business in CEE.
Campus 6.1 is the first phase of a four-building office complex Campus 6, the second Skanska’s development in Bucharest. Campus 6.1 will comprise approximately 22,600 m² , with eleven floors above ground and two levels of underground parking, including an intelligent parking system.
Located at the intersection of two main boulevards, Iuliu Maniu and Vasile Milea, the property benefits from great visibility and exposure, having good access to public transportation. The metro station is just across the street and trams as well as buses within 50 metres distance.
The property will feature a range of services such as a restaurant and a cafeteria with terraces as well as co-working green spaces equipped with multipurpose furniture and electric sockets and Wi-Fi. Moreover, the property will be equipped with an intelligent building management system consisting of e.g. an IT Hub in the reception area, a dashboard showing consumption per tenant/floor as well as a virtual reception (check-in and access control for visitors). A mobile app will connect all the services in the building and in the neighbourhood delivering e.g. building info, event news and offering features such as food delivery, car sharing and maintenance help service. Shared e-car facilities are available for tenants, as well as a Bicycle rental, which is located in front of the building. Bicycle facilities within the building include lockers and showers.
The property will feature a number of sustainable solutions to minimize the building’s environmental footprint and reduce its operating costs. The project will apply for LEED certification at Gold level.