Launched at the begining of 2011, the Property Management division of Colliers in Romania is currently working on 11 projects, both in Bucharest and the countryside, for which it offers consulting services, property management services or green certification advisory services. Six of these projects were included in Colliers’ portfolio during April – June 2012.

"The major problem which developers have to face in Romania is represented by tenants relocating from their buildings, a trend that promises to sharpen in the current economic climate. In order to be successful in today’s competitive market, any project requires a good property manager, one that is able to provide neutrality in the relationship with the tenants, that has solid market knowledge and owns excellent negotiation and communication skills. The Property Management division was created in response to this critical need, especially since the feed-back we received from the developers showed that internal management teams and facility management companies do not manage to cover all these requirements”, stated Ilinca Păun, Managing Director of Colliers International România.

After launching the Property Management division in January 2011, Colliers has succeeded in winning the property management mandates for five major projects: a medium sized office building developed by Allianz-Tiriac in Brasov, the two Olympian industrial and logistic parks owned by GE Capital Real Estate in partnership with Helios Phoenix in Timisoara and Brasov, as well as – starting with 2012 – the two projects Mega Distribution Park and Key Logistic Center located in Chiajna, Ilfov county. In this role, Colliers is responsible for tenant management, sourcing, controlling the operational budget, maintaining and improving the overall performance of the assets, as well as financial services and reporting to the landlord.

„Taking into consideration the dimension and complexity of Olympian Parks, we sought – and are happy to have found in Colliers – a prompt and proactive team that is able to manage efficiently our two industrial and logistic centers from Timisoara and Brasov, while adapting their services in order to respond to the specific needs of our tenants – companies operating in local and international distribution, dry or cold warehousing and light industry, with strict storage requirements”, a declarat Doina Badea, Asset Manager GE Capital Real Estate.

The projects for which Colliers currently ensures the property management services comprise a total surface of 100,000 m2, twice the value registered at the end of 2011, and the company’s development strategy aims at consolidating its expertise in the industrial, office and retail segments.

The green certification advisory services, launched in the second semester of 2011, succeeded in attracting the first three local clients, as follows: In 2011 – City Gate business center developed by GTC in Presei Libere square and Ana Tower office building, developed by GTC in partnership with Ana Holding (which has recently finalized the first phase of the green certification process by obtaining LEED Gold Core &Shell Precertification), respectively, in 2012 – Global City Business Park, the office building owned by Global Finance in the North of Bucharest. In this role, Colliers offers consultancy for LEED and BREEAM certifications for existing buildings, with the purpose of improving their performance and sustainability, as well as for new developments.

Next to these projects, since the second quarter of 2012, Colliers offers management consulting services for World Trade Center, as well as for two other office building owned by Allianz Ţiriac in Bucharest.

„For each of the services we provide, our objective is to contribute directly to our projects’ performance. Thus, we aim at reaching the same positive results that Colliers obtained in other European markets, such as a 98% rent collection rate in the first days of the month or the reduction of energy usage by minimum 25% for green certified buildings. Moreover, we are confident that this impact will increase in the future, as Romania will align to the European initiatives for encouraging sustainable building, such as the policy of reducing property taxes for green buildings, recently adopted by the local authorities of Cluj-Napoca”, explains Ştefania Baldovinescu, Director in the Property Management Services team of Colliers International Romania.