Morgan Stanley and David Hay bought it for some EUR90 million from France’s AEW Europe and later started an EUR10 million investment project, which they completed in the first half of 2022.
With the rise in rents and decline in the vacancy rate in the main areas of Bucharest, office buildings are gradually returning to investors’ radar.
America House was built by GTC in 2006, which sold it at a record yield of 5.6% for a EUR120 million price in 2007.
(English version by Loredana Fratila-Cristescu