• The ONV LAW team assisted a Romanian investor in acquiring the full share package of Bluehouse Investiții SRL, which owns the property where the Eva store was located.

• The transaction was valued at approximately EUR 8 million.

• The ONV LAW legal team was coordinated by Partner Lorena Ciobanu and supervised by Radu Nemeș, Managing Partner.

The ONV LAW legal team assisted a Romanian investor, a company active on the market since 2007, in a transaction worth approximately EUR 8 million for the acquisition of the full share package of Bluehouse Investiții SRL, which owns the property where the Eva store once operated.

“The real estate market in Romania has experienced steady growth in recent years, with increasing interest in residential and commercial properties. Real estate investments are stimulating, and strategic investors' acquisition of commercial spaces has become a more common practice. These investors seek to capitalize on long-term profitability potential and diversify their portfolios. Overall, the market continues to be dynamic, with long-term growth prospects,” said Radu Nemeș, Managing Partner at ONV LAW.

This acquisition opens new development opportunities for the investor, with the company benefiting from the expertise of ONV LAW’s legal team throughout the negotiation and completion process.

“The transaction represents an important moment for the real estate sector and a crucial step in developing our client's portfolio. We are grateful for the opportunity to assist a significant market player in a successful local real estate transaction. Through this deal, our client has taken over the entire share package of Bluehouse Investiții, which holds ownership of the property where, at one time, the Eva store operated,” said Lorena Ciobanu, Partner at ONV LAW.

The 1,700 sqm property is located in central Bucharest, on Magheru Boulevard, and is currently largely occupied by retailer Mega Image.

ONV LAW was involved in all stages of the transaction, assisting in the due diligence process, the structuring, preparation, and negotiation of the transaction documents, as well as complex negotiations with the Greek bank of Bluehouse Investiții.

Such a transaction is a complex process that can take several months and involves, among many others, reviewing existing contractual documentation, assessing financial relationships and loans, analyzing the real estate assets owned, validating insurance policies, checking necessary permits, as well as examining potential legal risks and lawsuits associated with the transaction.

The multidisciplinary ONV LAW team involved in this transaction was coordinated by Lorena Ciobanu, Partner at ONV LAW, in the Business Law practice. The team also included Senior Associate Bogdan Carpăn and Senior Associate Ana Petrescu, within the same practice. The legal team was supervised by Radu Nemeș, Managing Partner and coordinator of ONV LAW's Real Estate and Foreign Investment practice.

The ONV LAW Business Law and Real Estate team provides ongoing legal assistance to market investors, contributing to the evolution of the Romanian real estate sector. With 24 years of market experience, the ONV LAW legal team offers integrated assistance in all areas of law involved in transactions and M&A projects, providing solutions and strategies tailored to each client's needs.

Founded in 2000, ONV LAW is one of the most dynamic law firms in the Romanian market. Currently, the law firm holds the Presidency for Europe of the global legal network Legal Netlink Alliance (LNA), which brings together 95 law firms and over 1,500 lawyers worldwide. ONV LAW is also a member of the global legal network Interlaw, which includes over 8,000 lawyers globally.

ONV LAW provides legal consulting services to private companies as well as public institutions in various fields such as public procurement, infrastructure and concessions, mergers and acquisitions, corporate law, real estate, competition, telecom, as well as labor law, GDPR, IP, or environmental protection.

*This is a press release.