Cushman&Wakefield Echinox, the real estate consultant involved in the sale of America House, did not provide any comment on the information.
Though past its prime, America House is famous for having been the most expensive office building ever sold in Romania. That sale was completed in 2007 for EUR127 million. The deal will not exceed EUR100 million now, and should amount to EUR80 million to EUR90 million, according to market data.
Morgan Stanley’s entry in Romania would certify this market as a trustworthy one that has a long-term potential. Morgan Stanley has previously entered Poland in 2011 and Hungary in 2016.
America House’s current owner is French-held real estate asset manager AEW Europe, which bought it in 2007, during the boom days of the local real estate market. It has more than 90% occupancy rate, according to real estate consultant JLL and tenants include Deloitte, Ericsson, BCR, Actavis and Cisco.
(English version by Loredana Fratila-Cristescu)