JLL assisted entrepreneur Ovidiu Sandor in the sale of The Office Cluj-Napoca, the biggest office project transaction outside Bucharest

The sale of The Office Cluj Napoca by Ovidiu Sandor and NEPI Rockastle to the Dedeman group is the biggest transaction involving an office project ever conducted outside Bucharest and represents a new benchmark as regards the price and liquidity of prime real estate assets in secondary cities.

Real estate consultancy company JLL was the exclusive representative for Mulberry Development in the sale of The Office, which is also the biggest transaction concluded this year in Romania.

“We are happy to have been involved in a new benchmark transaction for the local real estate market. The completion of the sale of The Office in Cluj Napoca marks a new round of records on the real estate investment market outside Bucharest and the Romanian market overall. It is a major landmark for the local property investment market: the biggest transaction of a real estate asset in a secondary city signed in the past 10 years and the first of this size where both sides are prestigious Romanian entrepreneurs,” said Andrei Văcaru, Head of Capital Markets JLL România.

The Office is the biggest office project in Cluj-Napoca, with a total area of 61,000 square meters, 100% leased, and certified BREEAM Excellent.