AFI Europe announced on Tuesday, August 20, that it acquired the Bucharest Financial Plaza office building in the central area of ​​the Romanian capital as part of its plan to expand its portfolio in Romania. With this new addition, the company has reached a total of ​​over 300,000 leasable sqm of office space in the country.

The seller is Immofinanz, which bought the building in 2021 from BCR, and the price is EUR 27 million, according to Economica.net.

Informally known as the ‘Bancorex Block’ (Blocul Bancorex), located on Calea Victoriei near the CEC Palace, the project with a total built area of ​​38,703 sqm is the first modern building constructed in the capital in the 90s, becoming over time a landmark of the city’s historic center, AFI Europe noted. 

“Our goal is to transform this iconic property into a modern, A Class mixed-use project that meets the highest standards of quality. A sustainable building, complying with ESG requirements,” said Doron Klein, Deputy CEO AFI Europe & CEO AFI Europe Romania and the Czech Republic.

As of 2023, the project has obtained a building permit allowing its complete conversion to an A Class development.

AFI Europe is part of AFI Properties, a leading real estate development, management, and investment company operating in Central and Eastern Europe. AFI Europe Romania is the second most important office owner in the country, managing business projects totaling approximately 300,000 sqm GLA and retail spaces of approximately 175,000 sqm GLA.

irina.marica@romania-insider.com

(Photo source: AFI Europe)