Skanska has signed an agreement to sell the first phase of the two-building Equilibrium office complex in Bucharest’s Floreasca-Barbu Vacarescu business district to the Gordiusz Private Equity Fund, managed by Granit Asset Management.
The transaction value amounts to EUR 52 million.
“For all parties engaged in the process, the successful sale of Equilibrium 1 building is a turning point,” mentioned Gabriel Precup, Legal and Transactions Director for Skanska’s commercial development business unit in CEE. “This accomplishment demonstrates the strength of our collaboration with Granit Asset Management, whose mutual vision and confidence in the project were paramount to the transaction’s successful conclusion. Equilibrium 1 remains in capable hands, and we are committed to encouraging partnerships that benefit all parties involved in the long run.”
“With this transaction, Granit Asset Management aims to further expand its international real estate portfolio and strengthen its presence in the Central and Eastern European real estate market,” noted Almos Mikesy, CEO and Chairman of the Board of Granit Asset Management. “Equilibrium 1 perfectly aligns with our long-term ‘5B Strategy’ – a vision to establish a sustainable, high-quality, and dominant office portfolio across the region’s key capital cities, Budapest, Bucharest, Belgrade, Vienna, and Bratislava. The property’s prime location, diverse tenant mix, and outstanding ESG credentials make it an ideal fit for our investment strategy.”
The first phase of the complex, which is subject to the aforementioned transaction, was completed in 2019 and features approximately 21,000 square meters of leasable space across 11 floors, and includes 240 parking spaces. It is certified LEED Platinum, showcasing Skanska’s commitment to sustainable work environments.
“Equilibrium provides the ideal mix for organizations and their teams: a highly accessible location at the entrance to Bucharest’s most vibrant office sub-market, flexible layouts to accommodate a wide range of business needs, a generous green space where community members can work, enjoy a coffee, or host events, and a variety of on-site and nearby amenities that successfully balance professional and personal life. We are proud of this project and how we have created an amazing community. It’s gratifying to see this appreciated by investors.” said Aurelia Luca, Executive Vice President of Operations in Hungary and Romania at Skanska Commercial Development in CEE.
Throughout the sale process, Skanska was advised by Peli Partners for legal consultancy, Forvis Mazars for financial and accounting advisory, and Ana-Maria Notingher for tax consultancy. Intermediation services on Skanska’s behalf were provided by Colliers.
Granit Asset Management received legal advisory services from Nestor Nestor Diculescu Kingston Petersen, technical-advisory services from Sentient Romania, financial and tax-advisory services from TPA Admin Romania, and commercial-advisory services from IO Partners.
