Skanska sells two office buildings in Bucharest, Romania, for EUR 97 M

Press release 12/14/2020 8:00 AM CET

Skanska has sold the Campus 6.2 and 6.3 office buildings in Bucharest to S IMMO AG, an Austrian-based real estate company. This is the buyer’s first acquisition with Skanska and the largest transaction Skanska has concluded on the Romanian market thus far.  

Campus,Bucharest, Romania

Campus 6.2 and 6.3 are part of a state-of-the-art four-building business park Campus 6. They are located in the heart of Bucharest’s hottest sub-market, the Center-West. The second and third buildings of the project comprise a total leasable area of nearly 38,000 sqm and 463 parking places. They are 99% leased and the key tenants are blue chip companies Microsoft and Société Générale European Business Services. 

The Campus office complex is Skanska’s flagship investment in Bucharest. S IMMO AG has made a very good investment decision to acquire the second and third phases of Campus 6 leased to such great tenants. Bucharest is for us one of the most important markets in CEE to invest in and has become one of the most important IT&C destinations in Europe. Many international companies have set up their operations in Bucharest, which has influenced a strong demand for new offices. We are very happy that our project is very popular among IT and finance companies, which proves the highest quality of our investments”, said Arkadiusz Rudzki, Executive Vice President Leasing & Sales at Skanska commercial development business unit in the CEE. 

Bucharest amounted to EUR 410 of total divestment volume in H1 2020, which is approx. 90 percent of the volume for Romania. Despite the Covid-19 pandemic, the market is driven by office transactions, which represent 85 percent of the total transaction volumeThe city’s dynamic development makes it attractive for new and returning investors who are looking for new business opportunities and solid returns from investments.

Campus 6.2 and 6.3 are a first-class addition to our portfolio in Bucharest. We are absolutely convinced, that the office market in the Romanian capital will continue to grow strongly following a slight, pandemic-related stagnation. Once completed, the two properties will add long-term value to S IMMO’s CEE portfolio and will deliver positive contributions to earnings.” said Friedrich Wachernig, member of S IMMO AG’s Management Board expressing his satisfaction with the acquisitions. 

The Campus 6 second phase, designed by Westfourth Architecture, consists of two eleven-story A-class office buildings. It is located in Bucharest’s well-established IT&C sub-market  Center-West, just a walking distance from the Politehnica University. The neighborhood provides great public transportation options and easy access to the city center. It also offers an amphitheater and a wide range of amenities, including restaurants, cafés, banks, fitness centers, football, and tennis courts, as well as the Botanical Garden of Bucharest.  

The futureproof workplaces will be fully adapted to the needs and requirements of the tenantsespecially millennial employees. The buildings will be equipped with an innovative mobile application – Connected by SkanskaThe application allows users to get to know the building and the area around and will provide virtual reception making the guest experience simple and enjoyable. The buildings will also feature a parking system that will recognize license plates and allocate available spaces.  

Skanska focuses on delivering human-centric projects that have a positive influence on the health and well-being of tenants. The second and third buildings of Campus 6 will provide plenty of natural daylight for tenants, as well as the first 280 m long rooftop running track in RomaniaCampus 6.2 and 6.3 will be also equipped with bicycle storage facilities with changing rooms and showers, as well as parking with charging stations adapted for electric vehicles. Thanks to modern sustainable solutions, both buildings have already been pre-certified with LEED Gold and the first ever WELL Silver for Core & Shell certificate in Romania. Furthermore, they are among 9 Skanska projects in CEE which are now to receive the evidence-based, third-party WELL Health-Safety Rating, which awards high-quality office spaces with top safety standards that reduce the risk of disease transmission and facilitate creating healthy and safe workplaces in the post-COVID reality. Campus 6.3 was already delivered in October 2020 and Campus 6.2 is planned to be completed in Q1 2021.  

Last updated: 8/22/2017