Colliers International advises Nepi Rockcastle on strategic divestment of office portfolio for over 300 million Euro

The real estate consultancy company Colliers International Romania advised Nepi Rockcastle, a commercial property investor and developer, on securing the strategic disposal of its office portfolio comprising of four prime office projects. The properties located in Bucharest and Timisoara were signed to AFI Europe. The transaction value stands at over 300 million Euro, making this the biggest and most complex real estate investment transaction ever concluded on the Romanian office market.

“Securing the disposal of the Romanian office portfolio and the pricing achieved supports Nepi Rockcastle’s focus on its core retail strategy and European expansion programme. A transaction of such scale is a landmark event for the Romanian market and proves its potential, especially given that investor interest for the portfolio has been very strong. I wish to congratulate the entire team of our client, Nepi Rockcastle, on the deal, the investor AFI Europe for securing the portfolio, and to thank my colleagues in Bucharest, Prague, Warsaw and London who worked together on this transaction. We are glad to have had the opportunity to serve Nepi Rockcastle on the original acquisition of two assets in the portfolio, Floreasca Business Park in 2010 and City Business Center in 2012, and trust that these investments delivered attractive total returns to our client”, said Robert Miklo, Director Investment Services at Colliers International.

The divestment of the Nepi office portfolio is one of the biggest and most complex transactions ever conducted on the Romanian property market and the all-time largest pure office transaction. It is the largest strategic portfolio disposal managed by Colliers Romania, following the disposal of the CA Immo logistics portfolio, and the largest office transaction managed by the firm following the involvement in the disposals and acquisitions of high volume office projects (€100 million or more) in key Romanian cities including Floreasca Business Park, City Business Center, Floreasca Park, The Bridge and The Office.