Property (Real Estate)
Real estate is one of our core practice areas with Romania maintaining a strong drive for further development. Several key areas remain underdeveloped and we believe that the real estate sector is the key to spurring further growth in the Romanian economy. We also believe real estate projects involving agriculture and forestry will see a sharp increase in the near future, based on the abundance of these resources and long-term historical trends.
We provide advice and assistance to real estate investment and management funds, developers, banks and other financial institutions, as well as to real estate consultants and professionals in all aspects of their property-related activities.
We are widely recognised as the leading firm on leasing and build-to-suit lease agreements, our team being involved, amongst others, in the largest ever single tenant office lease in Romania.
We also assist local and foreign public bodies on legal issues involving real estate, including: real estate transfers; mergers, acquisitions and investments; and construction issues. We provide day-to-day assistance for residential, commercial, and industrial/logistical real estate uses, real estate finance, planning and urban planning. In matters involving urban planning, the firm offers legal advice on zoning regulations, municipal restrictions, licencing procedures and authorisations for urban operations.
With our support, our clients have developed acclaimed office buildings, residential projects, retail spaces and health and leisure developments.
Our Relevant Experience
- Advised Bog’Art Residential, the real estate investment division of Bog'Art Group, on the acquisition of 2 land plots located in the North of Bucharest, from OMV Petrom S.A. (part of OMV Group), with a view to be developed into a 130 apartment residential complex.
- Advised Bourbon Black Sea, one of the world leaders in marine services for offshore oil and gas, on the lease of 800 sq.m. in Pipera Business Tower, a class A office building located on 6E Dimitrie Pompeiu Boulevard.
- Advised Hagag, a listed Israeli real estate developer specialized in residential and commercial, on the acquisition of the office building located at 21 Tudor Arghezi Street in downtown Bucharest from the property fund NCH Capital.
- Advised Cordia Residence (Group Futureal), a leading residential property developer, on the acquisition of 21.000 sq. m. land plot in the Grivita Lake area, part of the Bucurestii Noi region of Bucharest.
- Advised Societe Generale (one of the largest European financial banking groups) through its service center subsidiary, Societe Generale European Business Services on the lease of 10,500 sq.m. in the third building of Skanska’s Campus 6 development.
- Advised Corporate Finance House Group (CFH), a Middle Eastern investor, on the acquisition of the Day Tower building, one of the largest office buildings in Bucharest, extending over 19,000 sq.m. and with an 11,753 sq.m. gross leasable area.
- Advised London Partners with the acquisition of a plot with an approximate area of 29,000 sq.m., located in the Expozitiei Area, one of the fastest developing areas in Bucharest.
- Advised Cordia Parcului, a local subsidiary of Cordia International Hungary on the development of the first smart home concept residential project in Bucharest.
- Advised Belvedere Residences UTR3 S.R.L., a local vehicle of London Partners, in relation to a multi-phase residential project developed in one of the fastest growing areas of Northern Bucharest
- Advised the investment arm of the largest Romanian construction company, Bog’art, on the acquisition of a 5,500 sq.m. plot of land in the northern area of Bucharest with a view to further developing a high-end residential project.
- Advised Commons, a co-working start-up with two locations in Bucharest and one in London, with negotiating the lease of three premises to be used as co-working hubs in Bucharest, totalling a surface area of over 3,300 sq.m.
- Advised Groupè Renault and Automobile Dacia on the largest ever single tenant build-to-suit office lease in Romania, over 39,000 sq. m.
- Advised the largest and leading fitness group in Romania, World Class, on all leases of premises for their fitness clubs since 2008, being around 45 locations in Bucharest, Ploiesti, Pitesti, Cluj, Timisoara, Bacau, Constanta and Iasi.
- Advised UPC Romania, the local subsidiary of Liberty Global, in relation to the lease of three floors totalling an area of approximately 6,000 sq.m. within a Class A building in order to consolidate all the client’s staff from existing offices elsewhere in Bucharest in one building.
- Advised WebHelp Romania, a 35,000 people-strong global leader in business process outsourcing (BPO) and specialised in customer experience with 3 awards at the ABSL Gala 2018, in relation to the lease of an additional three floors totalling a surface area of over 1,500 sq.m. for expanding its office premises in Bucharest.
- Advised Teads, a UK-based ad-tech company that creates outstream video advertising, on the lease of their new office premises, in the Dorobanti area of Bucharest.
- Advised British American Tobacco Romania on the lease of a 25,000 sq. m. multipurpose operating premises, including a fiscal warehouse, storage facilities, packaging facilities and office areas in Ploiesti West Park, the largest business development in South East Europe.
- Advised First Property Group PLC, an award winning property fund manager and investor with operations in the UK, Poland and Romania, in conjunction with a group of investors, on the acquisition of the MAESTRO BUSINESS CENTER Office Building located in Cluj - Napoca, Romania.
- Advised Futureal Management, one of the leading real estate developers and investors in Central Eastern Europe, in relation to the estimated EUR 3M Parcului project, centred on the acquisition of over 15,000 sq. m. located within District 1, Bucharest – one of the main residential areas in the city.