This would be the third largest transaction on the local office space market, after the deal through which Portland Trust had sold Oregon Park to Lion’s Head Investments, for an estimated EUR170 million, and the deal whereby Forte Partners had sold The Bridge offices to do-it-yourself retailer Dedeman.
The lettable area of the three buildings reaches nearly 23,500 sqm distributed over seven floors. The office space project was delivered at the end of 2016 and its largest tenants include GTM, Wolf Theiss, Total and UiPath. In December 2017, Revetas Capital and Cerberus Capital Management struck a deal for the acquisition of the Radisson hotel complex in Bucharest for EUR169.2 million
End-2017, Greece’s Piraeus Group reached an agreement with US private investment firm J.C. Flowers over the sale of its Romanian subsidiary, after a long time of talks, and the deal is now awaiting approval from Romania’s central bank. J.C. Flowers, which owns Piraeus Bank Romania, and Cerberus announced in March 2018 they would buy Germany’s HSH Nordbank for EUR1 billion.
Law firm Wolf Theiss assisted Revetas Capital Advisors LLP on the acquisition of Landmark.