BUCHAREST REAL ESTATE CLUB

Shaping a New Era of Development in Southeast Europe

Who’s Who: Ruxandra Grinzeanu, Raiffeisen Property Romania
Who’s Who: Ruxandra Grinzeanu, Raiffeisen Property Romania 400 275 BUCHAREST REAL ESTATE CLUB

Who’s Who: Ruxandra Grinzeanu

Managing Director, Raiffeisen Property Romania

BIOGRAPHY

Ruxandra Grinzeanu is Managing Director of Raiffeisen Property Romania, a real estate developer operating in CEE, a 100% subsidiary of Raiffeisen Property International. In Romania, the company owns two landmark properties, Sky Tower and FCC Building. The two outstanding office buildings are located in Bucharest’s most dynamic office area – Barbu Vacarescu-Floreasca, being occupied by tenants such as Raiffeisen Bank, Peli Filip law firm or Oracle and Nor Restaurant, one of Bucharest’s most exclusive restaurants, located at the 36th floor of Sky Tower. Ruxandra has a bachelor’s degree in Financial Management & Banks from Constanta University, she is a member of The Charted Institute of Management Accountants and she also holds an MBA. Before joining RPR in 2010, Ruxandra has previously worked for companies such as Rompetrol, Mega Image and River Invest.

ABOUT THE COMPANY

Raiffeisen Property International (RPHI) develops, manages and sells real estate in Austria and on CEE markets. RPHI, the real estate competence center of Raiffeisen Bank International, offers a full range of in-house development and other real estate related services. The integration into the banking network of Raiffeisen Bank International provides security and support in the regions of CEE and South-Easter Europe, which enables the real estate division to implement and pursue long-term strategies. In Romania, the company owns two landmark properties, Sky Tower and FCC Building. The two outstanding office buildings are located in Bucharest’s most dynamic office area – Barbu Vacarescu-Floreasca.

(26.09.2018)

Who’s Who: Remon Vos, CEO, CTP
Who’s Who: Remon Vos, CEO, CTP 800 500 BUCHAREST REAL ESTATE CLUB

Who’s Who: Remon Vos

CEO, CTP

BIOGRAPHY

Remon established CTP together with two other investors in 1998 to develop full-service business parks for investors doing business in Central Europe. Since the start, he has been CTP’s managing director and takes a hands-on approach to running the business. Remon’s focus is to grow the company’s portfolio and platform of services, and to develop and strengthen relationships with long-term business partners.

ABOUT THE COMPANY

CTP specialises in the delivery and management of custom-built, high-tech business facilities for leading international and domestic companies making strategic investments in new or expanded operations in Central Europe. In Romania the company has a large portfolio of premium industrial parks, strategically located in Bucharest, Cluj, Deva, Pitesti, Salonta, Sibiu, Timisoara and Turda.

(30.08.2018)

Who’s Who: Fulga Dinu, Operations Country Manager, Immofinanz Romania
Who’s Who: Fulga Dinu, Operations Country Manager, Immofinanz Romania 1063 560 BUCHAREST REAL ESTATE CLUB

Who’s Who: Fulga Dinu

Operations Country Manager, Immofinanz Romania

BIOGRAPHY

Fulga Dinu is Operations Country Manager at Immofinanz Romania and coordinates the company’s development on the office space and retail centre markets. Before joining Immofinanz, she occupied top management positions such as CFO of Iulius Group and Country Manager of Eurohypo (part of the Commerzbank group), the German bank which financed the real estate projects of Anchor Group in Romania.

ABOUT THE COMPANY

Immofinanz has a significant presence on the Romanian market, with 10 class A office projects and four shopping malls in key-locations nation-wide: Cluj-Napoca, Constanta, Pitesti and Baia Mare. The company consolidated its operations on the office and retail markets and introduced the group’s international brands to Romania: myhive for offices, VIVO! for retail centres and Stop Shop for retail parks.

(30.08.2018)

Who’s Who: Martin Slabbert, Partner, Prime Kapital
Who’s Who: Martin Slabbert, Partner, Prime Kapital 800 533 BUCHAREST REAL ESTATE CLUB

Who’s Who: Martin Slabbert

Partner, Prime Kapital

BIOGRAPHY

22 years of real estate, turn-around and finance industry experience

2007-2015: Co-Founder and CEO, New Europe Property Investments plc; 2005-2006: Partner, Deloitte Central Europe (Corporate Finance); Prior to 2005: CFO Premier Foods on secondment from Nedbank; General Manager in the capital management cluster of the Nedbank Group; Senior Vice-President for shareholders’ funds, member of the Executive Committee at Nedcor Investment Bank; HSBC Investment Services (Africa) (Pty); Arthur Andersen.

ABOUT THE COMPANY

Prime Kapital is an integrated real estate developer, investor and operator.
The company focuses on Central and Eastern Europe, investing predominantly in retail assets, selected residential projects and opportunistically across other real estate segments.
Prime Kapital has a portfolio of more than 20 projects, comprising mainly development projects in various stages of completion and several income properties.

(30.08.2018)

Who’s Who: Marian Roman, Managing Director, CA Immo, Romania
Who’s Who: Marian Roman, Managing Director, CA Immo, Romania 780 490 BUCHAREST REAL ESTATE CLUB

Who’s Who: Marian Roman

Managing Director, CA Immo, Romania

BIOGRAPHY

Marian Roman is one of the most respected real estate professionals on the Romanian market, with a career spanning over 15 years. Between 2003 and 2007 he was the Managing Partner of BSS, transforming the company in the leader of the property management sector. Beginning with 2007 he was the Regional Managing Director of Europolis in Romania up to 2011, when the company was acquired by CA Immo and Marian was appointed Managing Director for the Romanian office of CA Immo.

ABOUT THE COMPANY

CA Immo is a specialist in office properties in Central European capitals, with subsidiaries in six countries in the region. Since 2001, Romania is a CA Immo core market. The company’s portfolio comprises of prime office buildings such as Europe House, Opera Center, Bucharest Business Park, River PLace, Orhideea Towers and Campus 6.1.

(30.08.2018)

Who’s Who: Alexandru Morar, CEO, NEPI Rockcastle
Who’s Who: Alexandru Morar, CEO, NEPI Rockcastle 800 500 BUCHAREST REAL ESTATE CLUB

Who’s Who: Alexandru Morar

CEO, NEPI Rockcastle

BIOGRAPHY

Alexandru Morar was appointed as joint chief executive officer of NEPI Rockcastle on 15 May 2017. Alexandru graduated with a dual degree in finance and information systems from Stern School of Business, New York University. He began his career as an analyst at Julius Baer Investment Bank. He later joined the financial advisory practice of Deloitte Romania where he spent two years working on large projects and M&A transactions. He joined NEPI upon its founding in 2007 and has contributed to all aspects of the business since then. Before August 2015 (up to his appointment as NEPI’s CEO), Mr. Morar focused primarily on NEPI’s investments and acquisitions programme throughout Central and Eastern Europe. As NEPI’s CEO, he contributed to the significant increase in the company’s portfolio as well as further growing its team and asset management platform.

ABOUT THE COMPANY

NEPI Rockcastle is a commercial property investor and developer, listed on the Main Board of the Johannesburg Stock Exchange Limited (JSE) and Euronext Amsterdam. The Group has an exceptional property portfolio with dominant position in Romania, Poland and Slovakia and strong presence in Croatia, Bulgaria, Hungary, Czech Republic and Serbia, progressing with a retail expansion programme in other Central and Eastern Europe markets.

(30.08.2018)

Who’s Who: Ioannis Papalekas, Founder & CEO, Globalworth
Who’s Who: Ioannis Papalekas, Founder & CEO, Globalworth 810 456 BUCHAREST REAL ESTATE CLUB

Who’s Who: Ioannis Papalekas

Founder & CEO, Globalworth

BIOGRAPHY

Founder of Globalworth, Ioannis Papalekas has nearly 20 years of real estate investment and development experience, predominantly in Romania, having created one of the most successful real estate development and investment groups in the Romanian real estate market. He has significant experience in the acquisition, master planning, development, reconstruction, refurbishment, operation and asset management of land and buildings across all major asset classes in Romania. Before founding Globalworth, Ioannis was responsible for the acquisition, development and successful disposal of more than 400,000sqm of commercial (office, retail and logistics) space and 1,000 residential units in Romania.

ABOUT THE COMPANY

Globalworth is a leading real estate company with a primary focus on Poland and Romania, the two largest markets in Central and Eastern Europe (CEE). The company acquires, develops and manages commercial real estate assets, primarily in the office sector. In Romania, Globalworth has built a unique portfolio, valued at €1.1 billion as at December 2017 and establish itself as the leading real estate investor in the country, through acquisitions and developments, including landmark office buildings in Bucharest such as Globalworth Tower, Globalworth Plaza, TCI and, most recently, Globalworth Campus.

(28.08.2018)

TOP 10 OFFICE DEALS, Q2 2018
TOP 10 OFFICE DEALS, Q2 2018 1500 1000 BUCHAREST REAL ESTATE CLUB

TOP 10 OFFICE DEALS, Q2 2018

Co-work takes hold in the second trimester on the office market in Bucharest, with two new international groups announcing their entrance on the local market: Mindspace in Globalworth buildings and Spaces in Campus 6.1 and Unirii View. Another important new entry has been confirmed – London Stock Exchange, thus reinforcing the potential of the Romanian office sector, with a positive signal to institutional foreign investors.

MINDSPACE -GLOBALWORTH – 12,000 SQ. M, PRE-LEASE

Romania became the 7th country in which Mindspace offers its workplace solutions, following a leasing agreement with Globalworth for 12,000 sq. m in Globalworth Campus, City Offices and Bucharest Tower Center. Moreover, as part of their collaboration, Globalworth will become Mindspace’s shareholder by investing USD 10 million in the company. By entering Romanian market, Mindspace is expanding its portfolio to 28 locations in Europe and the United States, being present in 7 countries and 13 cities.

HUAWEI- LAKEVIEW– 6,300 SQ. M, RENEWAL

Chinese telecoms equipment maker Huawei has renewed its office lease deal in Lakeview, in a deal brokered by CW Echinox. The property is a landmark building in Bucharest’s most dynamic business hub from Barbu Vacarescu – Floreasca. The building was one of the first developed in this location by AIG Lincoln & Fabian, sold in 2013 to NEPI Group. It has a lettable area of 25,600 sq. m and has an occupancy rate of 98.8%.

THALES – ORHIDEEA TOWERS, 5,300 SQ. M, PRE-LEASE

Industrial group Thales has pre-leased 5,300 sq. m in CA Immo’s Orhideea Towers, which is to be delivered this year. The deal was brokered by JLL. The two towers of the project will have 13 and 17 floors, with surfaces up to 2,700 sq. m per floor and two underground floors each. The property is located in the Center-West sub market, a key location for the Austrian investor, which has acquired earlier this year  Campus 6.1 from Skanska in the area.

SCHLUMBERGER- THE BRIDGE 2, 4,500 SQ.M, PRE-LEASE

Schlumberger, the biggest technology supplier for oil and gas industry, has signed a pre-lease deal with Forte Partners for 4,500 sq. m in the second phase of The Bridge project. The deal was assited by CBRE. Schlumberger will open a shared services center on the premises. The second phase of the The Bridge will be delivered in the first part of 2019. The project located near Basarab overpass, in the Center West submarket was recently sold by Forte Partners to Dedeman in what has became the biggest transaction of 2018.

MEDICOVER- THE BRIDGE 2, 4,500 SQ.M, PRE-LEASE

The fourth place is occupied by two deals in the same building, as Medicover has pre-leased in Q2 4,500 sq.m in The Bridge 2, in order to bring together under the same roof all of its entities: Medicover, Synevo, Synevo Central Lab Clinical Trials and Software Development Competence Center. The company will open a clinic on an 840 sq. m area at the ground-floor of the building, while the rest of 3,700 sq.m will host the management and operational teams of the company’s group.

SPACES – CAMPUS 6.1, 3,100 SQ.M, PRE-LEASE

Spaces, part of International Workspace Group which also owns Regus, pre-leased a 3,100 sq.m in Campus 6.1, the office project developed by Skanska, near the Politehnic University in Bucharest. The Spaces’ concept features collaborative areas, team rooms, co-working spaces, fully-equipped meeting rooms, furnished private offices and a café.

LONDON STOCK EXCHANGE – CAMPUS 6.1, 3,000 SQ.M, PRE-LEASE

CBRE advised London Stock Exchange Group (LSEG) in the leasing transaction of 3,000 sq. m office space for a new Business Services Centre in Bucharest. The center will open later this year in Skanska’s Campus 6.1. The building is located in the Central-West area of Bucharest, near the Polytechnic University, a strategic location chosen by the British company. LSEG will initially employ 200 people across a range of roles.

“We are pleased to announce the opening of our new shared services center in Romania. Romania offers LSEG a highly-skilled workforce, a strong education system and good infrastructure”, said James Nunn, Head of Group Property, London Stock Exchange Group

SPACES – UNIRII VIEW, 3,000 SQ.M, PRE-LEASE

Spaces leased 3,000 square meters of office space in Unirii View and will open in the autumn of 2018 its first business hub located in the central area of Bucharest. The deal was brokered by CBRE. Spaces is characterized by a modern and creative design, materialized in unique working environments that enhance the entrepreneurial spirit.

“It is a very good sign for the Romanian economy when such an important player like Spaces chooses to enter this market and to expand massively”, pointed out Răzvan Iorgu, Managing Director of CBRE Romania.

CAMPUS 6.1, 2.200 SQ. M, PRE-LEASE

The Center-West submarket is the star of the Top 10 Deals in Q2, gathering a total of six deals. CBRE assited a company active in the computers & ti-tech sector for a 2,200 sq. m deal at Campus 6.1.

Campus 6 includes four office buildings with a total leasing area of 81,000 sq. m, the first building foolowing to be opened in Q3 2018. The project will include 7,000 sq. m of green areas, an amphitheater to gather social & business meetings, restaurants and coffee shops, as well as a running track on the roof.

DELPHI – GLOBALWORTH CAMPUS II, 2,1500 SQ.M, PRE-LEASE

The team of CW Echinox has assisted Delphi in pre-lease transaction of 2,150 sq. m in Globalworth Campus II. The business park will comprise three main office towers offering 88,000 sq. m. of GLA and 760 parking spaces.

One of the main tenants in the project is Amazon. Globalworth has became the leading office investor on the local market, with a portfolio exceeding 1 billion EUR.

 

(27.08.2018)

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Members’ news: Colliers sells the office portfolio of East Balkan Properties
Members’ news: Colliers sells the office portfolio of East Balkan Properties 2880 1920 BUCHAREST REAL ESTATE CLUB

Members’ news: Colliers sells the office

portfolio of East Balkan Properties

The real estate consultancy company Colliers International Romania advised East Balkan Properties plc in the selling of its office portfolio consisting of four buildings with a total area of 9,047 sqm, situated in strategic locations in the capital. The aquisition was made by Adam Europe.

 “The real estate investment market was characterized in the first half of this year by a very high diversity: properties with medium and very large premises, located in Bucharest and in regional cities, from different real estate sectors. This variety is very healthy for the market and marks the maturity of the portfolio of products available for sale”, Narcisa Stănimir, Senior Associate Investment Services at Colliers International Romania, said.

The portfolio includes four office buildings with a total area of 9,047 sqm, placed from the north of Bucharest to its center.

Airport Smart Offices is in the immediate vicinity of Henri Coanda Airport, Domenii Offices is located in the northwest area – near the Exhibition Area, Jules Michelet Office Building is near the center of Bucharest, in the historical part of the Romana Square, and Casa Mosilor Office Building is located between Universitate and Unirii Square, close to the cultural and academic institutions of the capital.

The positioning in these prominent areas, which also enjoy good connectivity to public transport, has favored a high occupancy rate, with a presence in these buildings of companies from various sectors of activity: marketing and advertising (e.g. McCann Erikson, Mercury Research), IT (e.g. Meti Logiciels et Services, Elkotech, Essensys Software), logistics (e.g. Militzer & Munch), construction (e.g. Martifer) and services.

East Balkan Properties plc is a private property company based on the Isle of Man and is invested in Romania, Bulgaria, Slovakia and Serbia. Adam Europe is coordinated by Isaac Cohen Hoshen.

EBP owns primarily logistics assets and industrial land. The office portfolio was purchased in 2006 and 2007 and managed since the acquisition by the asset and property management company Equest Investments SRL.

Adam Europe, a vertically integrated real estate investor and developer, under the coordination of Isaac Cohen Hoshen, acquired Phoenix Tower and Construdava Business Center in 2016, respectively 2017, announcing in this way the re-entering of the group on the Romanian market, which is under the extension of its portfolio of office buildings, but also the development of new residential projects, such as Reveria Palady 43 of Eastern Bucharest.

This year, the office segment will be the main attraction of the real estate investment market in Romania. Products are available, so, by end-2019, yield compression could happen quickly and the investment volume on the office sector could reach EUR 1 bn.

(23.08.2018)

Re-imagining office lobby
Re-imagining office lobby 2500 1407 BUCHAREST REAL ESTATE CLUB

Re-imagining office lobby

In a more and more crowded office market, with new hubs developing at fast pace, real estate investors are coming with new concepts, re-thinking the use of different functions, such as the office lobby.

According to “Innovation Spaces: The New Design of Work” study, the ground-floor of the office buildings is transforming “into community magnets that creatively draw like and unlike people together”. The study argues that the coffee shop on the ground floor is the easiest approach. “In other cases, the infusion of free, fast and pervasive wireless technology combined with more lounge-like spaces has transformed ground floors into working hubs”

WHAT CHANGES DO WE SEE ON THE LOCAL MARKET?

Globalworth has recently organized the first augmented art gallery, with video mapping animations in the lobby of its landmark building in Barbu Vacarescu, Globalworth Tower. The Human Extension by Victor Fota is part of the Art & Tech District, a cultural initiative founded by Globalworth in partnership with One Night Gallery that aims to promote the young generation of Romanian artists through emerging technologies and involve the community in the process. The company constantly uses the lobby and public spaces of its buildings to organize creative events such as art shows, street food caravans and other activations on different occasions.

SKANSKA IS ENVISIONING A LOBBY LIKE A SWEDISH SUMMER HOUSE

With the goal to redefine a vital part of every office building, by changing the lobby’s function from a transit area to a welcoming space, Skanska has collaborated with Danish architectural studio, Henning Larsen, to create a space with the feel of a Swedish summer house. The new lobby concept supports health and well-being in the workplace. The inspiration is Sommarstuga – the traditional Swedish summer house.

The new Skanska lobby concept can be easily rearranged to match the specifics of each and every futureproof office building in the company’s portfolio. In the same time, there are components that are common to every Sommarstuga inspired lobby. The design is based on several key elements: warm and comfortable light, natural materials, diverse spaces to meet and rest, and openness to the local communities.

IMMOFINANZ HAS IMPLEMENTED MYHIVE CONCEPT ON BUCHAREST MARKET

Austrian real estate investor has introduced its international office brand myhive in five of its office properties from Bucharest. The office brand stands for the friendly and lively atmosphere experienced in a hotel, combined with optimal infrastructure and services. The buildings are characterized by an inviting and lively atmosphere, attentive and helpful staff, easy accessibility and numerous services: shops and services for everyday needs, flexible and serviced offices, fast W-LAN in the common areas and a sport offering.

With acknowledged developers implementing their international concepts on the local market and new co-working brands such as Spaces or Mindspace to launch in the following period, it is a clear sign for institutional foreign investors that Bucharest is a strong market and offers high-returns.

(23.08.2018)

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