Polish group GTC has bought the Cascade Office Building on Buzesti Street, near Bucharest’s Victoriei Square, for EUR 9 million.

The seller was Adval Properties, a Romanian real estate company.

Cascade is a 4,200 sqm class A office building finalized in 2004. Local law firm Pelli Filip assisted GTC in this transaction.

GTC has developed two of the best-known office buildings in Bucharest, America House and Europe House in Victoriei Square. The group currently owns the City Gate, Premium Point, and Premium Plaza office buildings in Bucharest.

Its local portfolio is evaluated at EUR 180 million and has an occupancy rate of 90%.

editor@romania-insider.com