S Immo has acquired the Expo Business Park office project in the north of the Capital, from Portland Trust. Expo Business Park has a leasable area of 41,500 sqm and was completed in 2019. The transaction will be completed in the second quarter of this year, and the value of the transaction has not been made public.
“Through this acquisition, we are expanding our portfolio with another state-of-the-art property and consolidating our position in Bucharest, currently one of the most important office markets in Central and Eastern Europe. In addition, significant rental income will have a positive impact on our cash flow and the overall performance of S IMMO,”said Herwig Teufelsdorfer, CIO of S IMMO AG.
