Globalworth Real Estate Investments has announced that it has closed the acquisition, of Green Court Building B, Bucharest, from Skanska Romania. The transaction was effected through the acquisition of 100% of the shares of SPC Gamma Property Development Company s.r.l., the company owning the asset, for a consideration of circa €45m. Of this, €20m was financed via a debt facility provided by Banca Comerciala Romana (BCR), a member of Erste Group, and the remainder from existing cash resources.
Globalworth Real Estate Investments is a real estate investment company focused on unique property investment opportunities in South Eastern Europe and Central and Eastern Europe, primarily in Romania. Globalworth Real Estate Investments’ focus is on cash flow, principally targeting commercial assets let or to be let to multinational corporates and financial institutions under long term triple-net leases, supported in certain cases by parent company guarantees; and transformation of distressed, underperforming, or mispriced real estate assets into high quality, marketable properties through active asset management.
Globalworth completes acquisition of Green Court Building B : GWI