Tuca Zbarcea & Asociatii has advised Speedwell on the EUR 60 million sale of a 75% stake in the Miro office building to Hili Properties. Musat & Asociatii advised the buyer.
According to Tuca Zbarcea & Asociatii, "the remaining stake in the project will remain in the developer's ownership for another two years. The office building with a 23,000 square-meter area was delivered at the end of 2021 and is almost fully leased to Romanian and multinational firms."
Hili Ventures company Hili Properties is a Maltese real estate company with assets in Latvia, Romania, Lithuania, and Malta. Speedwell is a Romanian real estate developer.
"This transaction once again proves that a quality asset always attracts a quality buyer, not in the least because it attracts high-quality tenants," Speedwell CEO Didier Balcaen commented. "We are very happy to have Hili Properties as our partner for Miro, knowing that our visions are aligned in properly managing, maintaining, and further developing Miro as one of the key office locations in the Baneasa area."
"We are delighted to extend our portfolio in Romania with this prime asset," Hili Properties Managing Director George Kakouras added. "We look forward to collaborating with Speedwell on the management of the Miro and to increasing tenant satisfaction. Miro presents us with a solid, long-term investment and perfectly fits our strategy to build on the potential of assets for the benefit of our shareholders, tenants, and the local community. The Miro is a testimony to our vision to leave a positive impact on the communities in which we invest through sustainable buildings."
The Tuca Zbarcea & Asociatii team was led by Partners Razvan Gheorghiu-Testa and Horia Ispas and included Partner Mihai Dudoiu and Managing Associates Vera Aman and Catalin Georgescu.
The Musat & Asociatii team was led by Deputy Managing Partner Razvan Stoicescu and included Managing Associates Adrian Danciu and Madalina Trifan and Associate Valentina Burada.