Five investors – CTP, GLL, P3, Nepi and Globalworth – bought last year properties worth over EUR 500 M out of a total of EUR 650 M spent on the whole Romanian real-estate market, the JLL real-estate consultancy company informs.
“CTP, GLL and P3 are the companies that invested the most last year, against the backdrop in which NEPI and Globalworth were the most active in 2013 and 2014. The diversification of investors present on the local market will continue this year too, so that we will see buyers on all market segments. JLL is negotiating a series of transactions that could be completed in the following months and that have high chances of attracting new investors,” Silviana Badea, JLL Romania Associate Director and Head of Capital Markets, stated.
Netherlands-based CTP was the most active buyer in 2015, buying six industrial properties in Romania, transactions that totalled EUR 130 M.
On the office space market, after German institutional funds were absent for six years, GLL bought Floreasca Park and Victoria Centre, for a total of almost EUR 130 M.
Property purchases in Bucharest represented 80 per cent of the volume of investment registered in Romania last year.
The transaction volumes were dominated by the acquisition of industrial space (41 per cent), at a historic high for this market, and office space (38 per cent).
On the office space market, the most notable transactions were GLL’s purchase of Floreasca Park from Portland Trust, and Globalworth’s purchase of Green Court Building B from Skanska.
The only large transaction on the retail space market was made by NEPI, which took over Iris Titan from Scotland’s Aberdeen.
JLL was involved in 57 per cent of the total volume of real-estate transactions involving retail properties in 2015 and in over 70 per cent of the volume of transactions that involved consultants.
In what concerns the investment yields, they stood at 7.5 per cent on the office space and retail space market and at 9 per cent on the industrial space market.