ARTICLES LABELLED WITH TAG Andrei Văcaru

M Core, the biggest owner of retail parks in Romania, has purchased Shopping City Suceava from Argo Capital, for an undisclosed sum.

Romania recorded commercial real estate transactions worth around €730 million in the past year, up by 47% compared to 2023, according to a report by iO Partners. 

Real estate investment decisions in CEE are currently made considering various challenges, such as difficulty in predicting five-year exit strategies for investments, liquidity in the region, and concerns about the impact of ESG regulations on building compliance and financing, to name a few. CEE Property Forum 2024 in Vienna has taken a closer look at European investment trends in the panel chaired by Tim Wilkinson, MRICS, Head of European Acquisitions at Indotek Group.

Romania’s property investment market reached close to €655 million in the first nine months of 2024, up by 169% compared to the same period of last year, according to an iO Partners report.

Industrial developer WDP has purchased wholesale retail park Expo Market Doraly from ARA Europe and Romanian investor Gheorghe Iaciu for an undisclosed sum.

Pan-European commercial property collective, M Core, has officially launched into the Romanian market following the acquisition of 25 retail parks from Mitiska REIM in a deal worth  €219 million.

Andrei Văcaru, Head of Capital Markets CEE at iO Partners, spoke to Property Forum about the volume of local real estate investments in 2023 and Romania’s ability to attract more institutional investors in various sectors.

iO Partners, JLL preferred partner in Romania, Czech Republic, Hungary and Slovakia, has appointed Andrei Văcaru as Regional Head of Capital Markets for CEE. He has been working for the agency in Romania for the past 16 years.

Commercial property investment in Romania totaled €1.25 billion in 2022, up 40% compared to the previous years, of which the biggest single deal was Pavăl Holding’s acquisition of CA Immo’s office portfolio for €600 million, according to real estate consultancy JLL România. Last year's result was the biggest since 2008.

Investment transactions in Romania’s commercial property sector amounted to €656 million in the first three quarters of 2022, which was up 16.5% compared to the same period of last year, with offices driving deal volumes, according to real estate consultancy JLL Romania.