Business Forum • 21 August, 2024 at 10:22 AM
PeliPartners assisted Immofinanz AG in the sale of myhive Victoriei (formerly known as, Bucharest Financial Plaza) to AFI Europe, in a transaction of over €27,000,000. The property was sold together with the corresponding building permit for the conversion to a Class A property and is envisaged to undergo a significant refurbishment following the completion of the transaction.
Known as the first modern office building in Bucharest, myhive Victoriei was acquired by Immofinanz AG in 2021, with PeliPartners also acting as legal advisor for the buyer.
Francisc Peli, Managing Partner at PeliPartners, commented: “The Romanian real estate transactions market has shown significant momentum in recent months, and we are thrilled to be part of this vibrant and dynamic phase. We are honoured to have supported Immofinanz AG in this strategic sale, which aligns with their portfolio optimisation goals. The Bucharest Financial Plaza remains an iconic landmark, and its planned reconfiguration is set to enhance the value of the Bucharest CBD.”
The PeliPartners team was coordinated by Francisc Peli (Managing Partner) and Alexandra Ioniță (Managing Associate) and included Mihaela Stoian (Associate).
PeliPartners has a team specializing in complex projects that require innovative approaches. PeliPartners lawyers have been involved in some of the most important transactions on the Romanian market in the last 20 years. The team has a wealth of experience in a variety of fields, including mergers and acquisitions, financing, competition, infrastructure & concessions, energy, real estate and corporate law.