Dutch-registered real estate developer AFI Europe has signed an €300 million ($335.3 million) deal for the Romanian office property portfolio of NEPI Rockcastle.
The portfolio totals four office projects comprising eight buildings with a total gross lettable area of 118,500 square meters (1.3 million square feet), located in Bucharest and Timisoara. Floreasca Business Park, The Lakeview, and Aviatorilor 8 are located in Bucharest, while Timisoara City Business Center is located on Timisoara.
NEPI Rockcastle, which is the biggest mall owner in Romania, said the transaction is in line with its strategy to focus on its core business.
The transaction should be completed in May 2020.
