The Paval Group, which owns the Dedeman stores, took over the entire portfolio of the investor CA Immo, with seven office buildings. The highest-rated office buildings recently purchased are Campus 6.1, Orhideea Towers, and Europe House. They all have an occupancy rate of 100%.
The average occupancy rate of all the seven office buildings is almost 90%.
The value of the transaction is estimated at about 380 million euros. This transaction is a record on the Romanian market, being the highest so far.
The annual rental income of the seven office buildings in the CA portfolio is 30.4 million euros.
The Investment Market in Romania amounts to over one billion euros in 2022 and is likely to surpass by the end of the year the record recorded in 2019, of 1.022 billion euros.
Which office buildings have now bought the owners of Dedeman
The seven office buildings from the CA Immo portfolio purchased by the Paval brothers are: Campus 6.1, River Place, Opera Center 1 and 2, Europe House, Bucharest Business Park, Orhideea Towers, in Bucharest. They have a total area of 165,000 sq.m.
Top of the best rated buildings in CA Immo portfolio
- Fully leased Campus 6.1, tenants include NXP Semiconductors and DELL, located in the Polytechnic area
- Orhideea Towers, fully rented, tenants Bitdefender, Finastra and Carrefour, located in the Politehnica area
- Europe House, fully rented, orange tenants, Arnia Software, located in THE CBD, in Victoria Square
CA Immo’s portfolio is considered to be a quality one, with well-positioned office buildings and well-known tenants.
Keegan Viscius, CIO of CA Immo:
“Over the last years we have expanded, focused, and stabilised our Romanian portfolio to be a Class-A office portfolio in some of the most attractive micro-locations in the centre of Bucharest with a strong operational track record “
The Paval brothers, the owners of the Dedeman DIY chain, also own the office buildings The Bridge and Dacia One and U Center phase 1, in Bucharest also bought this quarter, and The Office, in Cluj-Napoca. Dacia One is considered the office building with the best yield in Romania, and U Center phase 1 was recently bought, also this quarter.
