In 2018, Primavera Development sold the mall project in Sibiu to NEPI Rockcastle, which finalized it into Promenada Sibiu, and has recently developed the Muse office building (7,500 square meters) near the Miorita Fountain in Bucharest.
The property it bought now, on 74, Grigore Alexandrescu, near Piata Victoriei was built in 2010 and has a surface area of about 6,450 square meters. It used to house the offices of the Bucharest branch of Allianz-Tiriac Asigurari SA until 2021.
Schoenherr’s real estate team assisted the seller through all the phases of the project to the negotiation and signing of the papers. The firm’s competition law, EU law and foreign trade covered all aspects about foreign direct investment and competition law.
Allianz-Tiriac, which is part of the global Allianz Group, is a top insurer in Romania. It provides a wide range of products and services, including general and life insurance, as well as private pensions.
Primavera Development is a real estate developer based in Bucharest and specialized in office, residential and mixed-use projects.
(English version by Loredana Fratila-Cristescu)