Colliers International advises on a new transaction: Aberdeen Asset Management sells Construdava office building

Aberdeen Asset Management Deutschland AG signed a sale agreement of Construdava building in Bucharest to AdamAmerica. This is the third transaction in which Aberdeen Asset Management Deutschland AG was advised by Colliers International.

Construdava is an office building with total surface of 9,400 m2, located in the north-eastern part of the city, directly on the Pipera-Tunari main road. The building is fully leased by Metro Systems, the internal information technology provider of Metro Group. Metro Systems Romania is the 8th largest software company in Romania and has a team of 800 IT professionals working for more than 30 countries.

The transaction has been advised by Colliers International and Cameron McKenna Romania law firm, as seller’s consultants. The buyer, AdamAmerica, has been represented in this transaction by Biris Goran law firm.

 “The sale of Phoenix Tower last year and then of Construdava confirms the interest for medium sized office buildings, supported especially by easier access to financing. 2016 was a dynamic year in terms of transactions with office buildings, this being the fourth transaction closed by Colliers in 2016”, Simina Niculita, Associate Director within Investment Services at Colliers International, said.

The real estate investment market in Romania is on a rising trend as both the volume of closed transactions and the interest from foreign investors registered sizable increases due to favorable international capital flow dynamics, positive macro-economic environment, and last but not least an improved financing environment. 2016 maintained a comfortable market liquidity, marking a total investment volume of EUR 720 million. 

In Romania, investment fund Aberdeen Asset Management Deutschland AG was also  involved in 2015 in the largest retail transaction on the local market, the sale of Auchan Titan Shopping Center and in 2016 in the sales of Phoenix Tower, an office building with total surface of 10,000 m2, in the Central-Eastern part of Bucharest, close to Bucharest Mall.

AdamAmerica Europe Division, managed by Isaac Cohen Hoshen, former co-founder of Adama Holdings, has a large residential portfolio in Berlin, Frankfurt, Strasbourg and Bucharest. Having local experience, the owners have seized the opportunity to enter again on the Romanian market through the acqusition on valuable assets, Phoenix Tower and Construdava, but also to develop new residential projects, such as Reveria project in Eastern side of Bucharest. For the next years, the target of AdamAmerica Europe is to increase and extend the office portfolio.
 

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Simina Niculita

Director | Partner | Romania

Bucharest

Simina joined Colliers International in May 2005. She started her career as a junior broker selling new apartments in some of the first residential projects. In less than one year, she became the Project Manager of several residential projects, coordinating the sales team and advising on the sales and marketing strategy. She also provided consultancy for other new projects to be launched on the market.

During 2007-2008, Simina led the residential investment team and offered consultancy to investors interested in acquiring portfolios of apartments. She managed to sell a total of 1,300 apartments in 14 months and coordinated the sales & marketing strategy for off-plan residential projects: Central Park, Global City, Flamenco, Seasons, Green Lake, Sky City;

Simina joined the Retail Agency at the beginning of 2009, creating several retail schemes both as a Project Manager and as a Leasing Broker. Her work with the developers involved concept consultancy, market research, team coordination, and leasing strategy.

Currently, Simina is Associate Director of the Retail Agency and has an active role in establishing the strategy and the priorities of the Shopping Centers team. Simina is focused on project management, providing consultancy for future major retail schemes and negotiating with anchor tenants and medium size tenants. 

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