PeliPartners assists Immofinanz on myhive Victoriei sale

Business Forum

21 August, 2024 at 11:07 AM

Romanian law firm PeliPartners has assisted Immofinanz in the sale of myhive Victoriei to AFI Europe, in a deal worth an estimated €27 million.

The office project, previously known as Bucharest Financial Plaza, was acquired by Immofinanz in 2021, with PeliPartners also acting as legal advisor for the buyer.

“The Romanian real estate transactions market has shown significant momentum in recent months, and we are thrilled to be part of this vibrant and dynamic phase (…) The Bucharest Financial Plaza remains an iconic landmark, and its planned reconfiguration is set to enhance the value of the Bucharest CBD.”

The PeliPartners' team that worked on the sale was coordinated by Francisc Peli (Managing Partner) and Alexandra Ioniță (Managing Associate) and included Mihaela Stoian (Associate).

The office project has a built area of 38,703 and is the first modern building constructed in the Bucharest in the '90s.

EBRD invests in Romanian retailer La Cocoș

The European Bank for Reconstruction and Development (EBRD) has announced a €10 million equity investment in Romanian retail chain La Cocoș. Additional equity funding will be provided by CEECAT Capital and Morphosis Capital to support the retailer's development plans.

Real estate

Bucharest hotel market to add 2,400 rooms by 2026

Bucharest's hotel market is set to expand by around 2,400 rooms by 2026, outpacing the estimated growth from other CEE-based capital cities, according to a Cushman & Wakefield report.

Real estate

PeliPartners assisted Immofinanz AG in sale of myhive Victoriei

Known as the first modern office building in Bucharest, myhive Victoriei was acquired by Immofinanz AG in 2021, with PeliPartners also acting as legal advisor for the buyer.

Real estate

Cătălin Năstăsoiu, Genesis Property: Integrating the wellness wheel into offices

The current workforce landscape has been significantly influenced by recent challenges, leading to a shift in how employees perceive their well-being. This highlights the importance for employers to prioritize their employees' health and happiness, actively supporting them and fostering a workplace culture that values holistic well-being, writes Cătălin Năstăsoiu of Genesis Property.

Real estate

AFI Europe buys landmark office building in Bucharest from Immofinanz

AFI Europe has purchased the myhive Victoriei building in central Bucharest from Immofinanz for around €27 million. The new owner plans to turn the existing office building into a mixed-use project, with the conversion permit already secured.

Real estate

Bellemonde secures funding for resi project near Bucharest

Romanian developer Bellemonde Developement has obtained €21 million in funding from Libra Internet Bank for a residential project in Pipera, near Bucharest.

Real estate

HILS Development posts 28% resi sales growth in H1 2024

Romanian developer HILS Development has announced a 28% increase in residential sales during H1 2024 compared to the same period of last year, while revenue was up 25% year-on-year. 