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AFI EUROPE

Category: Investment Deal of the Year, CEE
AFI Europe is part of AFI Properties, one of the leading real estate development, management and investment companies, operating in Central and Eastern Europe since 1997.
AFI Europe’s diversified portfolio consists of shopping centers, business parks and large-scale residential and mixed-use developments. The group operates in Romania, Czech Republic, Poland, Germany, Bulgaria, Serbia, Hungary and Latvia.
In 2020 AFI EUROPE finalized the acquisition transaction of NEPI’s Rockcastle office portfolio in Romania with a total GLA of 118,500 sqm and worth EURO 290 Million.
This acquisition is fully in line with AFI Europe’s strategy of expanding the operations in Romania with focus on yielding properties.
The acquired portfolio consists of 4 Class A office projects totalizing 8 office buildings situated in Bucharest and Timisoara:
 AFI Park Floreasca, located at 169 Calea Floreasca, Bucharest, with 36,470 square meters GLA;
 AFI Lakeview, located at 301-311 Barbu Vacarescu St, with 25,907 square meters GLA;
 AFI Victoriei Plaza (ex-known as Aviatorialor 8), located at 8A Aviatorilor Blvd., Bucharest, with 8,203 square meters GLA;
 AFI Park Timisoara (ex-known as Timisoara City Business Center), located at 10 Coriolan Brediceanu St, Timisoara, with 47,936 square meters GLA.
After this transaction and the completion of ongoing office developments (AFI Tech Park 2-3), AFI Europe Romania will have under management close to 300,000 sqm GLA office spaces, becoming one of the top 3 largest office owners in Romania.
Name of the deal AFI EUROPE
Information about the transaction project/projects/portfolio AFI Europe is part of AFI Properties, one of the leading real estate development, management and investment companies, operating in Central and Eastern Europe since 1997.
AFI Europe’s diversified portfolio consists of shopping centers, business parks and large-scale residential and mixed-use developments. The group operates in Romania, Czech Republic, Poland, Germany, Bulgaria, Serbia, Hungary and Latvia.
In 2020 AFI EUROPE finalized the acquisition transaction of NEPI’s Rockcastle office portfolio in Romania with a total GLA of 118,500 sqm and worth EURO 290 Million.
This acquisition is fully in line with AFI Europe’s strategy of expanding the operations in Romania with focus on yielding properties.
The acquired portfolio consists of 4 Class A office projects totalizing 8 office buildings situated in Bucharest and Timisoara:
 AFI Park Floreasca, located at 169 Calea Floreasca, Bucharest, with 36,470 square meters GLA;
 AFI Lakeview, located at 301-311 Barbu Vacarescu St, with 25,907 square meters GLA;
 AFI Victoriei Plaza (ex-known as Aviatorialor 8), located at 8A Aviatorilor Blvd., Bucharest, with 8,203 square meters GLA;
 AFI Park Timisoara (ex-known as Timisoara City Business Center), located at 10 Coriolan Brediceanu St, Timisoara, with 47,936 square meters GLA.
After this transaction and the completion of ongoing office developments (AFI Tech Park 2-3), AFI Europe Romania will have under management close to 300,000 sqm GLA office spaces, becoming one of the top 3 largest office owners in Romania.
The date of closing the deal Aug 2020
Value of the transaction (in EUR) 290,000,000
Yield -
Seller, plus brief information about the company In 2020 AFI EUROPE finalized the acquisition transaction of NEPI’s Rockcastle office portfolio in Romania with a total GLA of 118,500 sqm and worth EURO 290 Million.
This acquisition is fully in line with AFI Europe’s strategy of expanding the operations in Romania with focus on yielding properties.
The acquired portfolio consists of 4 Class A office projects totalizing 8 office buildings situated in Bucharest and Timisoara:
 AFI Park Floreasca, located at 169 Calea Floreasca, Bucharest, with 36,470 square meters GLA;
 AFI Lakeview, located at 301-311 Barbu Vacarescu St, with 25,907 square meters GLA;
 AFI Victoriei Plaza (ex-known as Aviatorialor 8), located at 8A Aviatorilor Blvd., Bucharest, with 8,203 square meters GLA;
 AFI Park Timisoara (ex-known as Timisoara City Business Center), located at 10 Coriolan Brediceanu St, Timisoara, with 47,936 square meters GLA.

After this transaction and the completion of ongoing office developments (AFI Tech Park 2-3), AFI Europe Romania
Consultancy which advised Seller -
Purchaser, plus brief information about the company Advisers of the buyer:
CMS (legal), EY (financial and tax), JLL (commercial) and Optim (technical)
The acquisition was financed by consortium of three banks: Erste Bank, Deutsche Pfandbriefbank and Banca Comerciala Romana.

The acquired portfolio consists of 4 Class A office projects: Floreasca Business Park, The Lakeview and Aviatorilor 8, in Bucharest, and Timisioara City Business Center, in Timisoara.
Total GLA = 118,500 sqm
Valu of the transaction = 290 Million Euro
Consultancy which advised Purchaser JLL
Financing institution Erste Bank, Deutsche Pfandbriefbank and Banca Comerciala Romana.
Current occupancy level 90-100%
Please say why this deal should be considered for the award This was the biggest deal on the Romanian market this year. After this acquisition AFI Europe became the second office owner on the market, in one of the highest transactions recorder in Romania (290 Million Euro).
Name of the deal
AFI EUROPE
Information about the transaction project/projects/portfolio
AFI Europe is part of AFI Properties, one of the leading real estate development, management and investment companies, operating in Central and Eastern Europe since 1997.
AFI Europe’s diversified portfolio consists of shopping centers, business parks and large-scale residential and mixed-use developments. The group operates in Romania, Czech Republic, Poland, Germany, Bulgaria, Serbia, Hungary and Latvia.
In 2020 AFI EUROPE finalized the acquisition transaction of NEPI’s Rockcastle office portfolio in Romania with a total GLA of 118,500 sqm and worth EURO 290 Million.
This acquisition is fully in line with AFI Europe’s strategy of expanding the operations in Romania with focus on yielding properties.
The acquired portfolio consists of 4 Class A office projects totalizing 8 office buildings situated in Bucharest and Timisoara:
 AFI Park Floreasca, located at 169 Calea Floreasca, Bucharest, with 36,470 square meters GLA;
 AFI Lakeview, located at 301-311 Barbu Vacarescu St, with 25,907 square meters GLA;
 AFI Victoriei Plaza (ex-known as Aviatorialor 8), located at 8A Aviatorilor Blvd., Bucharest, with 8,203 square meters GLA;
 AFI Park Timisoara (ex-known as Timisoara City Business Center), located at 10 Coriolan Brediceanu St, Timisoara, with 47,936 square meters GLA.
After this transaction and the completion of ongoing office developments (AFI Tech Park 2-3), AFI Europe Romania will have under management close to 300,000 sqm GLA office spaces, becoming one of the top 3 largest office owners in Romania.
The date of closing the deal
Aug 2020
Value of the transaction (in EUR)
290,000,000
Yield
-
Seller, plus brief information about the company
In 2020 AFI EUROPE finalized the acquisition transaction of NEPI’s Rockcastle office portfolio in Romania with a total GLA of 118,500 sqm and worth EURO 290 Million.
This acquisition is fully in line with AFI Europe’s strategy of expanding the operations in Romania with focus on yielding properties.
The acquired portfolio consists of 4 Class A office projects totalizing 8 office buildings situated in Bucharest and Timisoara:
 AFI Park Floreasca, located at 169 Calea Floreasca, Bucharest, with 36,470 square meters GLA;
 AFI Lakeview, located at 301-311 Barbu Vacarescu St, with 25,907 square meters GLA;
 AFI Victoriei Plaza (ex-known as Aviatorialor 8), located at 8A Aviatorilor Blvd., Bucharest, with 8,203 square meters GLA;
 AFI Park Timisoara (ex-known as Timisoara City Business Center), located at 10 Coriolan Brediceanu St, Timisoara, with 47,936 square meters GLA.

After this transaction and the completion of ongoing office developments (AFI Tech Park 2-3), AFI Europe Romania
Consultancy which advised Seller
-
Purchaser, plus brief information about the company
Advisers of the buyer:
CMS (legal), EY (financial and tax), JLL (commercial) and Optim (technical)
The acquisition was financed by consortium of three banks: Erste Bank, Deutsche Pfandbriefbank and Banca Comerciala Romana.

The acquired portfolio consists of 4 Class A office projects: Floreasca Business Park, The Lakeview and Aviatorilor 8, in Bucharest, and Timisioara City Business Center, in Timisoara.
Total GLA = 118,500 sqm
Valu of the transaction = 290 Million Euro
Consultancy which advised Purchaser
JLL
Financing institution
Erste Bank, Deutsche Pfandbriefbank and Banca Comerciala Romana.
Current occupancy level
90-100%
Please say why this deal should be considered for the award
This was the biggest deal on the Romanian market this year. After this acquisition AFI Europe became the second office owner on the market, in one of the highest transactions recorder in Romania (290 Million Euro).
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