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Hungary's Indotek buys office building in Bucharest

Hungary's Indotek buys office building in Bucharest One Victoriei Center Source: Indotek Group

BUCHAREST (Romania), June 27 (SeeNews) - Hungarian investment group Indotek said on Monday it has acquired the One Victoriei Center office building in Bucharest for an undisclosed sum.

Through the acquisition, Indotek Group strengthens its presence in Romania, reaching three assets on the local market - two office buildings in Bucharest and a shopping center in Targu Mures, it said in a press release.

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The office building has a gross leasable area of 12,000 sq m and is currently leased to 14 companies.

"The acquisition of the One Victoriei Center building, which, following the rebranding process, will become Bucharest Business Center, supports the company's strategic objective in terms of strengthening its presence on the local market," Indotek Group Romania and Bulgaria country manager Florin Tirla said.

"Through this transaction, our real estate investments in Romania reached a total 80,000 sq m and we are approaching the 100 million euro ($106 million) value," Turla added.

The name of the seller was not disclosed.

Indotek is predominantly active in Hungary but it is also seeking investment opportunities in the markets of Central, Eastern and Southern Europe. The investment group is currently present in or exploring the possibility of entering 14 countries.

The company's portfolio in Romania also includes the Baneasa Business Center office building acquired in March and Promenada Mall Targu Mures, which it bought from French-based investment fund AEW in September 2019.

($= 0.9448 euro)

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