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Clifford Chance and TZA Advise on AEW Sale of Romanian Properties

Clifford Chance and TZA Advise on AEW Sale of Romanian Properties

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Clifford Chance Badea has advised French investment fund AEW on the sale of the America House office building in Bucharest to the real estate investment division of Morgan Stanley and a group of Israeli investors represented by David Hay and the Promenada Mall Targu Mures to Hungary's Indotek Group. Tuca Zbarcea & Asociatii advised the buyers on the first deal and Biris Goran advised the buyers on the second.

Clifford Chance Badea describes AEW, which is owned by French financial group Natixis, as "one of the largest real estate investment managers in the world." According to the firm, AEW "entered the Romanian market in 2007, through the acquisition of America House from Globe Trade Center and, a few months later, the acquisition of Promenada Mall Targu Mures from BelRom."

The Clifford Chance team included Partner Nadia Badea, Counsels Andreea Sisman and Mihai Macelaru, Senior Associate Radu Costin, and Lawyers Madalina Mailat and Bogdan Micu.

Editor's Note: After this article was published Biris Goran announced that its team consisted of Partners Raluca Nastase, Sorin Aungurenci, and Ruxandra Jianu, Senior Associate Anca Zegrean, and Associates Radu Jianu and Kira Bujduveanu. 

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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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