Solida Capital completed its first office transaction in Romania. This development is part of the company’s strategic expansion into the Central and Eastern European (CEE) market.
The transaction involves the acquisition of Victoria Center previously owned by Manova Partners (formerly Macquarie), an internationally active independent real estate investment company. The prime asset is located on Calea Victoriei, one of the most high-end and affluent streets in Bucharest. The office building, Victoria Center, comprises a total Gross Leasable Area (GLA) of 8,600m2, distributed across 10 floors including a retail area in the ground floor and a number of 92 parking spaces.
Manova Partners acquired the asset in 2015 for one of its multi-investor funds and was able to fully execute the original ten-year business plan. During this time, the asset has been consistently well-let to a number of high-profile occupiers, many in the premises since the building’s delivery in 2010.
The involved parties have agreed not to disclose the purchase price.
The transaction, finalized in early 2025, underscores Solida Capital’s continued commitment to identifying and capitalizing on high-value opportunities in dynamic real estate markets. This expansion into Romania is a key element of the firm’s broader growth strategy in Central and Eastern Europe, a region that continues to demonstrate considerable economic potential and investment prospects.
Jean Aboumrad, Founding Partner of Solida Capital, stated: “The completion of our first transaction in Bucharest represents an important step in the expansion of Solida Capital’s portfolio and our strategic presence in Central and Eastern Europe. We are confident that this market holds substantial opportunities for growth, and we are committed to further strengthening our footprint in the region while also creating significant value for our investors.”
“While our second exit in this market once again highlights available liquidity for high-quality assets in Romania, we also remain committed to Bucharest, where we still hold CDG Plaza and continue to look for attractive opportunities,” Florian Winkle, Co-CEO at Manova Partners.
The buyer was advised by Kinstellar as the Lead Legal Counsel, Colliers in a Commercial advisory capacity, Ernst & Young for Financial and Tax matters, and SC Optim Project Management for Technical support. The seller was advised for the transaction by Peli Partners as the Lead Legal Counsel, iO in a commercial advisory capacity, CMS for Tax & Financial matters and Sentient for Technical support.
Furthermore, Solida Capital would like to express its sincere gratitude to Banque Banorient France for its unwavering support and partnership in financing this landmark transaction. Their professional guidance and commitment to excellence have been essential to the successful completion of this deal.
Image Source - Solida Capital.
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