Schoenherr has advised CA Immobilien Anlagen Aktiengesellschaft on the sale of a Bucharest seven-office-building portfolio to Paval Holding. KPMG Legal Toncescu si Asociatii advised Paval Holding.
According to Schoenherr, “the portfolio comprises seven office buildings in Bucharest, spanning approximately 165,000 square meters of total gross leasable area and approximately EUR 30.4 million of annualized gross rental income. Along with the properties, the Romanian CA Immo team was also taken over by the buyer.”
According to KPMG Legal, the traded portfolio included the Bucharest Business Park, Campus 6.1, Europe House, Opera Center 1 and 2, Orhideea Towers, and the River Place office buildings in Bucharest.
CA Immo is a real estate group headquartered in Vienna with branch offices in five Central European countries. Its core business is managing and developing office buildings. Founded in 1987, the company is listed on the Vienna Stock Exchange and owns properties in Germany, Austria, and Eastern Europe.
Paval Holding is a Romanian family-owned investment entity.
Schoenherr’s team was led by Partner Markus Piuk and included Partner Georgiana Badescu, Local Partner Oana Constantinescu, and Managing Attorneys at Law Cristina Enaga and Adriana Stanculescu.
The KPMG Legal Toncescu si Asociatii team included Partner Alex Mocanescu, Senior Managing Associate Irina Stanica, Managing Associate Ioana Narosi, and Senior Associates Alexandru Sorici and Andreea Livita.
