Skanska sells office project in Bucharest, Romania, for EUR 44 M, about SEK 400 M

Skanska Property Romania sells its first office development project in Romania. The new owner of Green Court Bucharest A – the first building of the three-building office complex in Bucharest – will be Globalworth Real Estate Investments LTD, the real estate investment company listed on the AIM section of the London Stock Exchange. The value of the transaction totals EUR 44 M, about SEK 400 M. The sale will be recorded by Skanska Commercial Development Europe in the fourth quarter 2014 and transfer of the property is scheduled for the second quarter 2015.

Green Court Bucharest is the first project developed by Skanska Property Romania in Bucharest, and on the Romanian market. The total leasable area of this A class office complex, comprising three buildings, is about 52,000 square meters. The sold building offers approximately 19,500 square meters of leasable area. It was completed in the fourth quarter 2014 and is already 91 percent leased, attracting top brands tenants such as Orange Romania and Schneider Electric Romania. The property will be delivered fully leased upon closing.  

The building is LEED Gold precertified.

Skanska Commercial Development Europe initiates and develops property projects in office and commercial buildings. The company’s operations are concentrated in metropolitan areas in the Czech Republic, Hungary, Romania and Poland and are conducted in four local units: Skanska Property Czech Republic, Skanska Property Hungary, Skanska Property Romania and Skanska Property Poland.