Floreasca Park in Bucharest changes hands
In a joint-venture deal, Resolution Property, part of China’s Fosun Group, and Zeus Capital Management have acquired Floreasca Park in Bucharest. The seller was a fund managed by GLL Real Estate Partners GMBH. Kinstellar, Knight Frank, Ernst & Young and Sentient advised the buyers. The seller was advised by PeliPartners and Cushman & Wakefield Echinox and Portland Trust, as property manager. The transaction was financed by Erste Bank. The Oracle-anchored property, located in the capital’s Floreasca-Barbu Vacarescu business district, features approximately 40,000 sqm in two class A office buildings that are connected by an underground car park with 586 spots. The tenant mix includes Kellogg’s, BASF, Saint-Gobain, Ursus Breweries and ENI.