Deloitte Romania provided financial and tax due diligence support, as well as assistance in preparing the sale-purchase agreement, through a multidisciplinary team made up of Radu Dumitrescu, Partner-in-Charge, Miruna Ciocea, Assistant Director, and Laura Necsuliu, Senior Associate, from the Financial Advisory practice, and Dan Badin, Partner, Alexandra Smedoiu, Partner, Mihaela Iacob, Senior Manager, and Ana Bica, Senior Consultant, from the Tax practice.
Under the agreement concluded between the two parties, Hili Properties will also be taking over the remaining 25% stake in Baneasa Real Estate in two years’ time.
“This is a project that proves once again that the Romanian market is attractive for foreign investors even if sometimes there may be challenges with the geopolitical situation in the region,” said Radu Dumitrescu, Financial Advisory Partner-in-Charge, Deloitte Romania.
Hili Properties owns and manages commercial real estate assets for lease in Estonia, Latvia, Lithuania, Malta and Romania. Its portfolio is made of 23 properties – business buildings, office space, shopping centers, healthcare facilities, an industrial plant and restaurants.
Through the acquisition of the MIRO office building, Hili Properties’ portfolio value increases to EUR234 million from EUR174 million. In Romania, the company also owns the ART Business Center in Bucharest, which hosts a private hospital.
In Romania, Speedwell’s portfolio includes the Record Park projects in north-western city of Cluj-Napoca, The Ivy, Triama Residence, MIRO and Space Plus projects in capital city Bucharest, the Paltim in western city of Timisoara and the Riverside City in the town of Ramnicu Valcea. Speedwell is held by Belgians Jan Demeyere and Didier Balcaen,