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PNSA and Reff & Associates Advise on Sale of "The Office" Complex in Cluj-Napoca

PNSA, Reff & Associates, and PeliFilip/PeliPartners Advise on Sale of "The Office" Complex in Cluj-Napoca

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Popovici Nitu Stoica & Asociatii has advised Dedeman on its EUR 120 million acquisition of "The Office" — an office complex in Cluj-Napoca, Romania — from NEPI Rockcastle and Mulberry Development. Reff & Associates advised the two sellers. Additionally, PeliFilip/Peli Partners acted as strategic adviser to one of the sellers, Mulberry, on the SPA.

The Office complex, which was developed by NEPI Rockcastle and Romanian entrepreneur Ovidiu Sandor (the founder of Mulberry) in the summer of 2017, has a leasable area of 63,600 square meters. According to PNSA, the complex generates EUR 5.1 million per year in rents from tenants such as Bosch, Bombardier, Deloitte, Ernst & Young, HP, and MOL. Dedeman is a Romanian do-it-yourself retailer that is owned by local investors Dragos and Adrian Paval.

The PNSA team was led by Partner Valentin Creata along with Managing Associate Ela Marin, also included Partners Ioana Sampek and Mihaela Ion, Managing Associates Ana-Maria Vlad, Andreea Grosu, Codrin Luta, Laura Ambrozie, and Luana Dragomirescu, Senior Associates Alexandru Stan, Catinca Turenici, Cristiana Blei, Cristina Marcu and Lavinia Dinoci, as well as Associates Ana Seinea, Ariadna Marian, Dalida Nenu, Diana Dobra, Geanina Popescu, Luiza Zamura, Vanessa Nistor and Veronica Culcea. Tax assistance was provided by PNSA Tax SRL Partner Mihaela Pohaci and Senior Manager Raluca Rusu. Last year PNSA advised Dedeman on the acquisition of The Bridge, an office project in Bucharest (as reported by CEE Legal Matters on August 8, 2018).

The team of Reff & Associates — the Romanian representative of the Deloitte Legal network — was coordinated by Partner Irina Dimitriu and included Senior Managing Associates Simona Iacob, Alina Tihan, and Diana Fejer, Senior Associates Maria Nitulescu, Adrian Hlistei-Muresan, and Oana Bucsa, and Associates Diana Elena Rotaru and Fraga Varadi.

A team led by Francisc Peli — first at PeliFilip and then, after he and his team left that firm to launch a new one, at Peli Partners — provided additional support to Mulberry. That team included Senior Associate Mirabela Maria and Associate Lavinia Ghencea.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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