Romanian entrepreneur buys office building in northern Bucharest

Business Forum

19 May, 2025 at 10:38 AM

Romanian entrepreneur Daniel Ștefănescu, owner of mobile phone distributor Gersim, has purchased the IPA office building in northern Bucharest from a group of investors.

The building that has a leasable area of around 8,700 sqm was sold in a deal worth around €12 million, according to profit.ro, which reported on the deal.

Ștefănescu has previously invested in the real estate market and bought a land plot in Bucharest during 2021 for a planned residential project.

In Bucharest, the office gross take-up was 51,300 sqm in Q1 2025, a 44% year-over-year decrease, according to Cushman & Wakefield Echinox. However, the consultancy forecasts an acceleration in demand starting in the second half of the year, with several major deals expected to be signed.

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