International advisory firm JLL is the new property and asset manager of Swan Office & Technology Park in northern Bucharest, owned by Romanian group Smartown Investments.

JLL is thus in charge of maintaining the relations with the tenants, its responsibilities also including extensive operational management services such as overseeing subcontractors and maintenance costs.

“This is the second contract won by the JLL’s Property Management Department in the last four months. With this contract, JLL's managed portfolio in Romania went up to more than 200.000 sqm,” said Mariana Stamate, Head of Property Management Department for JLL Romania.

Swan Office & Technology Park was developed by Chayton Capital LLP with an investment of over EUR 50 million, and inaugurated in the second quarter of 2011. The office project has been in insolvency since March 2013 and, last year, the judicial administrator sold the project to Smartown Investments.

Swan Office Park offers more than 29,100 sqm of office and commercial space in three buildings. Some of its tenants are Dante International (eMAG), Flanco Retail, Fashion Days, Mercedes-Benz, Tecnoservice, BIC, and Renovatio.

JLL is currently managing a portfolio of properties with a total size of 203,000 sqm, among which Colosseum Retail Park, Liberty Center, Green Gate office building, and nine industrial projects.

Irina Popescu, irina.popescu@romania-insider.com