CA Immo’s Romanian portfolio was valued at almost EUR400 million as of March 2022 and comprises a leasable area of 164,557 square meters with an occupancy rate of 89.9%, generating annual rent of EUR29.4 million at a yield of 7.5%.
This is the second highest yield after that of the portfolio in Serbia, which is 8.5%, according to the group’s first quarter financial report. The Romanian portfolio represents 8% of the total portfolio, valued at EUR5.1 billion. CA Immo has no new investments underway in Romania, the only countries where it has such projects are Germany and the Czech Republic.
In the last quarter of last year, CA Immo decided to evaluate several strategic options for the Romanian market, including a sale of its entire office space portfolio in Bucharest, according to a report published in November 2021.
The sale of the office space portfolio could also mark the largest deal signed so far in the local market, worth almost EUR400 million, surpassing the one in which NEPI-Rockcastle sold its office space portfolio to AFI Europe for EUR307 million. On the other hand, in the case of this deal, talks were concluded before the pandemic.
(English version by Loredana Fratila-Cristescu)