Dedeman has finalized its acquisition of The Office in Cluj Napoca from NEPI-Rockcastle and Timisoara-based entrepreneur Ovidiu Sandor. While the purchase price was not disclosed, local media reports are estimating the deal to be around €100m. The Romanian DIY chain was advised by Popovici Nitu Stoica and Associates. The 60,000 sqm BREEAM-certified office building was completed in 2017 and is currently fully leased.
“We are delighted that The Office project will be taken over by a strong entrepreneurial group with Romanian capital. It is a guarantee for the management and development of the project and is also a long-term commitment to our tenants who will have a reliable partner. The conclusion of this transaction will allow us to focus on the current investments in ISHO and to broaden our horizons in order to identify new investments,” said Sandor.
