S IMMO AG purchases two Class-A office buildings in Bucharest
Stock exchange listed S IMMO AG has purchased two properties of the business park Campus 6 in Bucharest from the Swedish development and construction company Skanska with a total investment volume of EUR 97m. Together, both buildings have got a total leasable area of nearly 38,000 square metres and are fully let. Key tenants are Microsoft and Société Générale, one of France's most relevant commercial banks.
The Campus 6 consists of four building components and is located in Bucharest's well-established sub-market Center-West. Since it is in the vicinity of the Technical University, this area is of great significance especially for IT companies. Its direct connection to the subway as well as to busses and trams further increases the attractiveness of this location. The two eleven-story A-class office buildings also have got two basements with 463 parking lots. Both buildings have been already pre-certified with LEED Gold and WELL Silver. Campus 6.3 is already delivered, and Campus 6.2 will be delivered in Q1 2021. The transfer of the property to S IMMO's portfolio is scheduled for the second quarter of 2021.
"Campus 6.2 and 6.3 are a first-class addition to our portfolio in Bucharest. We are absolutely convinced, that the office market in the Romanian capital will continue to grow strongly following a slight, pandemic-related stagnation. Once completed, the two properties will add long-term value to S IMMO's CEE portfolio and will deliver positive contributions to earnings", Friedrich Wachernig, member of S IMMO AG's Management Board expressed his satisfaction with the acquisitions.
"The Campus office complex is Skanska's flagship investment in Bucharest. Bucharest is for us one of the most important markets in CEE to invest and has become one of the most important IT&C destinations in Europe. Many international companies have set up their operations in Bucharest, which have influenced a strong demand for new offices. We are very happy that our project is very popular among IT and finance companies which proves the highest quality of our investments", said Arkadiusz Rudzki, Executive Vice President Leasing & Sales at Skanska commercial development business unit in the CEE.