Acquisition of Green Court Bucharest Building "B"

RNS Number : 1107F

Globalworth Real Estate Inv Ltd

10 November 2015

 

Globalworth Real Estate Investments Limited

Acquisition of Green Court Bucharest Building "B" from Skanska Romania

Guernsey,  10 November 2015: Globalworth Real Estate Investments Ltd. (AIM: GWI) ("Globalworth" or the "Company"), the real estate investment company targeting opportunities in Romania, is pleased to announce the acquisition of Skanska's second building in the Green Court Bucharest project. The gross transaction value is approximately Euro 47 million. Closing of the acquisition is expected in December 2015.

Green Court Bucharest is a prestigious, newly built class-A office park comprising three buildings, strategically located in Bucharest's new central business district and very close to Globalworth's existing Bucharest One, Nusco Tower and Gara Herastrau investments. The Company has owned the first building, Green Court Building "A", since June 2015.

Building "B" has a leasable area of c.18,600 sqm and was officially opened in June 2015. It is now more than 80% leased to major tenants such as Carrefour, Sanofi, Adecco, Colgate Palmolive and RINF Outsourcing Solutions.  The property has received the LEED Gold pre-certification.  

Dimitris Raptis, Deputy Chief Executive Officer and Chief Investment Officer of Globalworth Real Estate Investments commented:

"We are pleased to have been able to continue our partnership with Skanska in Romania with the acquisition of Building "B" of the Green Court Bucharest project. This transaction represents an important milestone for Globalworth which will own two of the three buildings in the city's newest class-A office park, further consolidating our leading position in Bucharest's new central business district."

Globalworth's advisors to the transaction were Nestor Nestor Diculescu Kingston Petersen (legal), the Aquarius Group (technical) and EY (financial).

For further information visit www.globalworth.com or contact:

Panmure Gordon (Nominated Adviser and Joint Broker)              Tel: [phone]

Nicola Marrin

Cantor Fitzgerald Europe (Joint Broker)                                                Tel: [phone]

Rick Thompson

David Foreman

Milbourne (Public Relations)                                                                     Tel: [phone]

Tim Draper

About Globalworth

Globalworth Real Estate Investments Limited is a real estate investment company founded by real estate investor and developer Ioannis Papalekas currently focused on taking advantage of investment opportunities in Romania. The Company's shares were admitted to trading on AIM in July 2013.

The Romanian market offers an attractive real estate investment proposition in the medium-to-long term. Globalworth believes that global investor capital flows will gradually move from markets considered as "safe havens" to more peripheral markets such as Romania in search of higher yielding investments.  As a result, Romania should, in due course, become a more attractive destination for a wide investor audience.  Globalworth anticipates holding an early mover advantage in and benefiting from this gradual shift in investor sentiment.

 

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