Skip to main content Skip to footer

Colliers advises Nepi Rockcastle on strategic divestment of office portfolio for over EUR 300 million

The divestment of the Nepi office portfolio is the largest strategic portfolio disposal managed by Colliers Romania.

The real estate consultancy company Colliers International Romania advised Nepi Rockcastle, a commercial property investor and developer, on securing the strategic disposal of its office portfolio comprising of four prime office projects. The properties located in Bucharest and Timisoara were signed to AFI Europe. The transaction value stands at over EUR 300 million, making this the biggest and most complex real estate investment transaction ever concluded on the Romanian office market.

Securing the disposal of the Romanian office portfolio and the pricing achieved supports Nepi Rockcastle’s focus on its core retail strategy and European expansion programme. A transaction of such scale is a landmark event for the Romanian market and proves its potential, especially given that investor interest for the portfolio has been very strong. I wish to congratulate the entire team of our client, Nepi Rockcastle, on the deal, the investor AFI Europe for securing the portfolio, and to thank my colleagues in Bucharest, Prague, Warsaw and London who worked together on this transaction. We are glad to have had the opportunity to serve Nepi Rockcastle on the original acquisition of two assets in the portfolio, Floreasca Business Park in 2010 and City Business Center in 2012, and trust that these investments delivered attractive total returns to our client”, Robert Miklo, Director Investment Services at Colliers International, said.

The transaction’s complexity was remarkable, with four different assets with an area of over 118,000 sqm and a high number of tenants. The size of the transaction influenced many new investors to consider Romania and there is certainly an appetite for more transactions. I am glad to see that AFI Europe has acquired the entire portfolio, proving the commitment for the Romanian market and the strategic development of the company”, Mihai Patrulescu, Senior Associate Investment Services at Colliers, added.

The divestment of the Nepi office portfolio is one of the biggest and most complex transactions ever conducted on the Romanian property market and the all-time largest pure office transaction. It is the largest strategic portfolio disposal managed by Colliers Romania, following the disposal of the CA Immo logistics portfolio, and the largest office transaction managed by the firm following the involvement in the disposals and acquisitions of high volume office projects (ca. €100 million or more) in key Romanian cities including Floreasca Business Park, City Business Center, Floreasca Park, The Bridge and The Office.

Related Experts

Robert Miklo

Director | Romania

Bucharest

Robert was born and raised in Romania, attended Emanuel University of Oradea and joined Colliers International in 2006. Since entering the real estate services industry, he has focused his activities on consulting, research and the sale of investment properties. Robert deals with private and institutional investors and remains up-to-date on product and global and local market context.

Since joining Colliers International, Robert has served as:
 
- 2006-2008: Consulting - carried out approx. thirty feasibility and market studies for investors, developers and financing institutions
- 2008: Investment Analyst
- 2009: Coordinator of Research Division
- 2010 - Investment Sales
 
Robert is also a member and moderator at the School of Leadership, an educational initiative of Colliers International Romania and a guest lecturer at the Griffiths School of Management.
View expert

Laurentiu Lazar

Managing Partner & Head of Investment | Romania

Bucharest

Laurentiu, Managing Partner at Colliers International Romania, has over 14 years of experience in real estate services including valuation, advisory and investment. He joined Colliers in 2007 as a real estate valuer and in 2009 he was promoted to Head of Valuation and Advisory Services, with the responsibility to expand the valuation team in Romania. In 2015, he became Head of Investment, developing the Capital Markets services and later appointed as Senior Partner within Colliers International Romania in 2016, managing over 20 experts. As of march 2018, Laurentiu was promoted Managing Partner.

Before joining Colliers, Laurentiu worked for 10 years at Vodafone Romania/Connex, holding different management positions within Marketing and Customer Operations Divisions. Between 2014 and 2017 he has been Vice-President of ANEVAR (Romanian Association of Valuers).

In parallel, I was involved raising funds for various projects, such as Teach for Romania, The Romanian Foundation for Neurology and Epilepsy and “Prietenia” Association.

Quote: „When given the choice between being right or being kind, choose kind.” – Wayne W. Dyer

View expert