AFI Europe Group contracted a EUR 170 million loan from a consortium of banks consisting of Erste Bank Group, pbb Deutsche Pfandbriefbank, and Banca Comerciala Romana (BCR) to acquire the office portfolio of NEPI Rockcastle in Romania, Ziarul Financiar reported.

With a total value of EUR 307 mln, the deal accounts for a third of the Romanian real estate investment market estimated at around EUR 1 billion in 2020.

The portfolio sold by NEPI Rockcastle to AFI Europe includes four office projects: Floreasca 169, The Lakeview, Aviatorilor 8 (pictured) in Bucharest, and City Business Center in Timisoara.

With a total leasable area of 118,500 sqm, the properties have green certifications and are strategically positioned in the most sought after business centers in Romania.

Local law firm Wolf Theiss Bucharest assisted the consortium of banks that granted the loan to AFI Europe.

(Photo courtesy of the company)

andrei@romania-insider.com