The sale price was EUR27 million, according to Immofinanz.
The acquisition is part of AFI Europe’s plan to expand its Romanian portfolio. With this new addition, AFI Europe reaches a total of over 300,000 leasable sqm of office area in Romania, strenghtening its leading position in the real estate industry in the country.
Informally known as the ‘Bancorex Block’ (‘Blocul Bancorex’), the building is located on Calea Victoriei no. 15, near the CEC Palace, and has a total built area of 38,703 square meters. It is the first modern building constructed in the capital city in the 1990s and has become over time a landmark of the historic center. The purchase of this building marks another step in the expansion strategy of AFI’s portfolio in Romania. The ‘Bucharest Financial Plaza’ is a symbol of the business environment in contemporary Romania, located close to the capital’s ground zero. “Our goal is to transform this iconic property into a modern, A Class mixed use project that meets the highest standards of quality. A sustainable building, complying with ESG requirements, creating the perfect work and leisure destination in the heart of Bucharest”, said Doron Klein, Deputy CEO AFI Europe & CEO AFI Europe Romania and the Czech Republic. AFI Europe plans to obtain the most prestigious sustainability certificates for the building, a priority for all properties in the AFI portfolio. As of 2023, the project has obtained a building permit allowing its complete conversion to an A Class development. Throughout the transaction, the company was assisted by law firm Popovici Nitu Stoica & Asociatii.