Acquisition of Green Court Building "C"

RNS Number : 6660J

Globalworth Real Estate Inv Ltd

30 June 2017

 

Globalworth Real Estate Investments Limited

Globalworth to become the sole owner of the Green Court Bucharest Campus

Guernsey, 30 June 2017: Globalworth Real Estate Investments Ltd. ("Globalworth" or the "Company"), the leader in the office real estate market in Romania, is pleased to announce the acquisition of Building "C" of the Green Court Bucharest campus developed by the Swedish group Skanska - one of the world's leading project development and construction groups. The gross transaction value is approximately Euro 38 million and the acquisition is expected to close in Q3-2017.

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 sqm. Globalworth is the owner of buildings "A" and "B" of the campus, which it acquired in June and December 2015 respectively. Building "C" has a surface area of 16.300 sqm 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".

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".

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. 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.

"The divestment of the third building of Green Court Bucharest represents the successful conclusion of our first office development in Romania. The vision that we had for our project was to provide an innovative, productive and human-centric workplace, along with contributing to the community and to the placemaking of the area that hosts the project. The relationships that we built with our partners thoroughly confirmed the realization of these aims.

We wish to thank both our tenants and Globalworth Real Estate Investments Ltd for their trust and cooperation", stated Marcin Łapiński, Managing Director Skanska Property Romania & Hungary.

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

Globalworth Real Estate Investments Limited

Dimitris Raptis

Tel: [phone]

Panmure Gordon (Nominated Adviser and Joint Broker)

Andrew Potts

Tel: [phone]

Cantor Fitzgerald Europe (Joint Broker)      

Rick Thompson

David Foreman

Tel: [phone]

Milbourne (Public Relations)

Tim Draper      Tel: [phone]

Globalworth Real Estate Investments Ltd.

Globalworth is a real estate investment company active in the SEE and CEE regions with a prime focus on Romania. The Company is internally managed by c.70 professionals and its portfolio comprises high quality real estate investments valued at c. Euro 983.3 million at 31 March 2017, all located in Romania.

Skanska Romania

Skanska Romania is an innovative developer and constructor of green office buildings creating friendly environment for business growth. The company has been operating in Romania since 2011 and is part of the Skanska Group, world leader in project development and construction. The projects of Skanska Romania offer top-quality office space at great locations, which ensures success and satisfaction of tenants and investors. All the investments of Skanska Romania will undergo LEED certification process confirming their compliance with the principles of sustainable development, optimal energy consumption and superior work environment.

 

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