April 2022 – Kinstellar is delighted to announce that it has advised S Immo AG, a leading Vienna-listed real estate investor and developer, on the acquisition of EXPO Business Park, a three-building office complex in Bucharest, Romania, from Portland Trust. The transaction value remains confidential but, when closing occurs, it is estimated to be one of the largest commercial property transactions in Romania for 2022. Kinstellar advised on all legal aspects, including full due diligence, transaction documentation, and other matters.
S Immo AG is a leading real estate investment company focusing on Austria, Germany and CEE, with 70% of its portfolio consisting of commercial properties (offices, shopping centres and hotels). With the purchase of Expo Business Park in Bucharest, S IMMO AG will have added yet another high-end office property to its portfolio, thus strengthening its position on the Romanian market. Located in the Expozitiei Blvd area of Bucharest, the A-class office property has a total leasable area of nearly 41,500 square metres and an underground car park for about 600 cars.
Victor Constantinescu, managing partner of the Bucharest office and head of its real estate practice, noted: "We're very grateful to S Immo AG for having trusted us with this acquisition. One of our favourite clients to work with, the team put a considerable effort to make this happen, despite headwinds internationally. Congratulations to all involved."
The Bucharest team was led by Managing Partner Victor Constantinescu and Managing Associate Cătălin Dinu, and included: Cătălin Graure (Managing Associate), Adelina Seserman (Associate), Miruna Dumitru (Associate), Răzvan Constantinescu (Senior Associate), Cosmin Vasilescu (Associate), Oana Grigore (Senior Associate), Narcisa Mureșan (Junior Associate).