Globalworth Real Estate Investments has announced that it has acquired Building “C” of the Green Court Bucharest campus, developed by the Swedish group Skanska, for a gross transaction value of approximately €38m. The acquisition is expected to close in the third quarter of this year.
Green Court Bucharest
Located to the north of Bucharest in the Barbu Vacarescu – Floreasca area, the Green Court Bucharest campus is the first project completed by Skanska in Romania. The campus comprises three class “A” office buildings with a total rentable area of 54,300 square matres. Globalworth already owns buildings “A” and “B”, which it acquired in June and December 2015 respectively. Building “C” has a surface area of 16,300 square metres and has received LEED Gold certificate for energy efficiency. At present, companies including General Motors, Orange, Capgemini, ABB, Legand and Merck occupy space in Building “C”.
Developed using Eco-friendly technologies and sustainable solutions
Globalworth Real Estate says that the Green Court Bucharest project was developed using eco-friendly technologies and sustainable solutions used to minimize the building’s environmental footprint and significantly reduce its operating costs. It says that modern technology such as the energy efficient façade, which reduces solar thermal transfer, and energy efficient lighting systems incorporating motion and intensity sensors will guarantee a comfortable work environment. The property also features powering stations for electric cars, special parking spaces and facilities for bicycles, a green interior courtyard with free Wi-Fi, and an IT Hub in the reception of Building C, available not only for office employees but also for local community members.
A commanding position in the north Central Business District of Bucharest
Dimitris Raptis, Deputy Chief Executive Officer and Chief Investment Officer of Globalworth, commented: “We are delighted to announce the acquisition of Building “C” of the award-winning Green Court complex in Bucharest. This marks the third transaction between Globalworth and the Swedish developer Skanska and, following its completion, Globalworth will own the entire Green Court Bucharest complex. Together with the other properties that we own in this area, the Green Court Bucharest Campus further strengthens our commanding position in the north Central Business District of Bucharest, the city’s largest and most sought-after office hub. This transaction marks another very important step in attaining our strategic objectives and consolidating our portfolio with modern, high-quality and energy efficient buildings”.
About Globalworth Real Estate Investments
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 Real Estate become sole owner of Green Court Bucharest Campus : GWI