Business Forum • 28 February, 2025 at 9:23 AM
Property investor and asset manager Solida Capital has purchased the office project Victoria Center in Bucharest from Manova Partners, marking its first transaction in Romania and strategic expansion into CEE. The deal value was not made public.
The project is located on Calea Victoriei, one of the most high-end and affluent streets in Bucharest. The office building has a leasable area of 8,600 sqm, distributed across 10 floors, including retail area on the ground floor and 92 parking spaces.
“We are confident that this market holds substantial opportunities for growth, and we are committed to further strengthening our footprint in the region while also creating significant value for our investors,” said Jean Aboumrad, Founding Partner of Solida Capital.
Florian Winkle, Co-CEO at Manova Partners, added that the company remained committed to Bucharest, where it holds CDG Plaza office plaza.
Kinstellar acted as lead legal counsel for the buyer, with Colliers providing commercial advisory services, Ernst & Young advising on financial and tax matters, and Optim Project Management providing technical support.
Victor Constantinescu, Bucharest Managing Partner and Head of Firm-wide Real Estate at Kinstellar, said: "Thrilled to have advised Solida Capital on their first real estate investment in Romania! A huge congratulations to all parties involved for their hard work and perseverance—completing this transaction was a team effort. Grateful to our client for their trust and to everyone who contributed to making this transaction happen!"
The seller was advised by Peli Partners (legal), iO Partners (commercial), CMS (tax and financial), and Sentient (technical).
The financing was backed by Banque Banorient France.