As a part of its strategy to build an income generating office portfolio across CEE, the property company GTC has acquired a pair of office buildings in the center of Bucharest. The two buildings are Premium Plaza and Premium Point, which offer a total of 15,000 sqm of leasable space.
Both buildings are about 80-percent leased to strong tenants, and GTC’s CEO Thomas Kurzmann said the company will now focus on filling their remaining vacant space. Expanding GTC’s office portfolio was a primary objective of its new shareholder, the U.S.-based private equity group Lone Star.
The transaction follows the acquisitions of Duna Tower (Budapest) and Pixela (Poznań) and brings the number of projects in GTC’s portfolio to 37 assets, totaling more than 665,000 sqm. In addition, GTC recently delivered Fortyone, an office building in Belgrade, and is preparing a new retail scheme in Warsaw’s Białołęka district called Galeria Północna, which is due for completion in 2017.
