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January 27, 2023

Globalworth buys Nusco Tower

Businessman Ioannis Papalekas, who is engaged in a real-estate expansion through the Globalworth company, 54.3 per cent of which is owned by him, has bought the Nusco Tower office building located close to the Pipera underpass, for EUR 46 M. Two weeks ago Globalworth had paid EUR 44 M for Skanska’s building located nearby.

Nusco Tower has a surface of 23,000 square meters, 20 floors and an occupancy rate of 91 per cent, being rented out to companies such as Oracle, Volksbank and Bayer.

Apart from Nusco Tower, Papalekas has bought from the same owner, for EUR 4 M, a plot of land of 2,434 square meters, located 200 meters away from Nusco Tower, close to the Green Court building he recently bought from Skanska. The plot of land has all the permits necessary for the development of an office building with a rentable surface of 12,000 square meters. Nosco sold another plot of land of 4 hectares in the summer of this year, in the same area, to Portland Trust, a company that will build an office center with a surface of 70,000 square meters.

“After the recent purchase of Green Court, this new transaction consolidates Globalworth’s leadership position in Bucharest’s new business center. Nusco Tower is a well-known and high-quality office building, with a list of blue-chip tenants, while the plot of land is one of the few plots still available in the middle of the city’s new business center, a city that continues to witness strong demand from tenants, especially from multinational companies,” Dimitris Raptis, Globalworth’s investment director, stated. The Nestor Diculescu Kingston Petersen (NNDKP) law firm was Globalworth’s legal consultant in both transactions.


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