GLL Real Estate Partners has acquired Victoria Office Center in Bucharest for a price believed to be around €27m. The 8,300 sqm class A office building in central Bucharest is fully leased on long-term agreements to international tenants such as Citibank, JLL, AON, AIG and Starbucks. The fund has also completed the €50m acquisition of One Brindleyplace, Birmingham – a 6,430 sqm Class A office building in central Birmingham with a long unexpired lease term to Deutsche Bank.
The GLL Pan European Property Fund FCP is a real estate fund which will invest in assets across Europe with a target investment volume of up to €1bn. The fund has now invested over €184m into four core office buildings in the first 12 months since inception, and expects to add another prime office acquisition to its existing portfolio before the end of the year to take the fund volume to over €225m.
GLL was advised by Dentons and CBRE in Romania, and by Norton Rose Fulbright and Colliers in the UK for the acquisitions.
Bluehouse Capital fund, the seller of Victoria Office Center, was represented exclusively by JLL.
