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The Landmark Disposal - Bucharest

CATEGORY
Investment Deal of the Year, CEE
The Landmark is a prime office complex located in Bucharest’s Central Business District, with 100% occupancy at the time of sale, with long term leases of key international and local tenants. The transaction was completed at a record-low yield, below the prime market level, and represents the largest office deal in Bucharest post COVID-19 period, with a value exceeding €70 million — setting a benchmark for subsequent transactions in the market.
Name of the deal
The Landmark Disposal - Bucharest
Information about the transaction
Revetas Capital announces the disposal of the premium office park The Landmark to Vectr Holdings, through its subsidiary Vectr Realty. Vectr Realty acquired the asset from funds managed by Revetas Capital in partnership with affiliates of Cerberus Capital Management through a share deal.

The Landmark, developed in 2017 offers 23,700 sqm of state-of-the-art offices in the capital’s Central Business District (CBD), strategically placed between Piata Victoriei and Piata Romana. The office park holds BREEAM Very Good New Construction certification and major companies such as UiPath, Total Energies, Wolf Theiss, Premier Energy, and Systematic, are among its main tenants, with long term leases. The scheme is fully let.

Vectr Realty was advised by legal team of RTPR and advisory team of KPMG, while the seller was assisted by the law firm Wolf Theiss.
The date of closing the deal
2024-08-01
Value of the transaction (in EUR)
0
Yield
below prime yield, value over 70 million Euro, setting a benchmark for the office transactions
Seller, plus brief information about the company
Revetas Group is a vertically integrated international institutional investment platform, specializing in value-add, oportunistic, distressed opportunities and special situations.

With offices in New York, Vienna, Luxembourg, and London, Revetas Group serves a global investor base.
The Group has invested in and managed over $7bn in real estate and is supported by a team of 80+ professionals, bringing deep expertise and hands-on execution to complex real estate investments across Europe &US.
Consultancy which advised Seller
Colliers
Purchaser, plus brief information about the company
Vectr Holdings, a privately-owned group of companies, is engaged in various sectors including agricultural operations, agricultural machinery distribution, fitness, and real estate in Romania through its verticals Vectr Farms, Agroconcept, World Class and Vectr Realty.
Consultancy which advised Purchaser
-
Financing institution
-
Current occupancy level
100