Stratulat Albulescu Attorneys at Law has advised Corporate Finance House Group (“CFH”), a Middle Eastern investor, on the acquisition of the Day Tower building, one of the largest office buildings in Bucharest, extending over 19,000 sq.m. and with an 11,753 sq.m. gross leasable area.
The acquisition was concluded on 17 October. The property, a major Class A office building, is located in the center of Bucharest (strategically situated on Unirii Boulevard), having a total built area amounting to 19,000 sq.m., with approximately 1,360 sq.m. typical office floor space, 9 above ground floors, and a 915 sq.m. dedicated retail area and more than 150 underground parking places.
Among the tenants of the Day Tower office building, we can name ENEL, the largest private investor in the energy field in Romania, with operations for supplying and distributing electricity, as well as producing energy from renewable sources.
The Corporate Finance House Group is an investment banking firm, a wholly owned subsidiary of First National Bank Group, operating in the Middle East region, which provides specialist financial advisory services for debt and equity private placements, mergers and acquisitions, financial engineering and restructuring, operations value enhancements and turnarounds, leveraged buy-outs, divestments, initial public offerings, private equity, and real estate finance. CFH caters to mid-sized corporations, banks, high-net-worth individuals, private equity firms, and family-owned businesses. CFH has successfully executed an extensive number of transactions including advisory assignments, placements and private equity/real estate transactions with an aggregate value in excess of US $4 billion. CFH’s current geographical reach extends to the Levant region, the GCC, Europe, and the USA.
With over 50 years of experience, Day Group (the „Seller”) is an International Property Development and Investment platform, engaged in the Design, Engineering, Construction, Redevelopment and Lease/Sale of commercial and residential property. With the Romanian branch of the business established since 2004, the Seller has successfully developed and transacted in Bucharest, to date, more than 35.000 sq.m. and 500 apartments on the residential side, being also engaged in the development of 12.000 sq.m. office space in Downtown Bucharest and in a Mixed – Use Redevelopment project in Bucharest Central – Northern area.
The Stratulat Albulescu team was led by Managing Partner Silviu Stratulat, supported by Partner Ana Maria Kusak, Partner Andrei Albulescu and Associate Daiana Assoum.