Skanska Sells Romanian Office Asset

Campus 6.1 is the first phase of a four-building office development in Bucharest. CA Immo purchased the property for $60 million.
Campus 6.1, Bucharest, Romania

Skanska has sold Campus 6.1, an office building in Bucharest, Romania, to CA Immo for SEK 530 million, or around $60 million. The transfer is scheduled to take place in the fourth quarter of 2018 and will be recorded by Skanska Commercial Development Europe in the second quarter.

Campus 6.1 is the first development phase of a four-building office complex, Campus 6. The property is located in the Central West section of Bucharest, marking the company’s first project in the submarket and the second one in Bucharest overall. The asset will be completed by the third quarter of 2018 and is almost completely leased. Comprising 243,264 square feet, the Campus 6.1 building features 11 floors above ground and two stories of underground parking. Tenants will have access to a restaurant, a cafeteria, terraces, co-working green spaces, bicycle rental, showers, lockers, e-car facilities and Wi-Fi. The asset will be equipped with an intelligent building management system that will feature an IT Hub in the lobby, dashboard showcasing energy consumption and a virtual reception area.

“Having acquired Millennium Towers in Budapest in 2016 and Spire Building B in Warsaw in 2017, we continue to pursue our target of continuous development and expansion of our CEE core market portfolios with the purchase of Campus 6.1 in Bucharest,” said Andreas Quint, CEO of CA Immo, in a prepared statement. “The multi-tenant property is very well located and will be nearly fully let by takeover, clearly supporting our overall financial goals.”

Skanska has been busy with its international developments. Last month, the company unveiled plans to develop a production and storage facility in Gliwice, Poland, on behalf of Johnson Matthey. That project will also be included in the European order bookings for the second quarter.

Image courtesy of Skanska