Atenor sells @Expo office building in Bucharest

Atenor announced the disposal of the shares of the Romanian company Nor RE, owner of the @Expo office building (57,666 sqm) in Bucharest.

Atenor delivered the office asset, which obtained BREEAM “Outstanding” and WELL “Platinum” certifications, to the market in 2023. The building is currently 29 percent leased.

The private real estate investment firm acquiring the asset intends to hold it for the long term – a strategy that has become particularly suited to the Bucharest office market since 2022.

Through this disposal, Atenor achieves a further significant reduction in net financial debt of €52 million early in 2026. The transaction strengthens the company’s financial position and generates additional liquidity to support the construction of selected projects and the evaluation of new investment opportunities.

The disposal of the @Expo building, combined with the full commercialisation of the Upsite residential project, also in Bucharest, marks the end of Atenor’s activities in Romania. This decision forms part of a broader simplification of the Group’s structure and will result in lower overhead costs.

The disposal had a negative impact of €30.5 million, which was recorded in the 2025 financial year.

With the completion of this transaction, Atenor reaches another milestone in the execution of one of the key pillars of the 2025–2027 strategic plan: the gradual reduction of exposure to the Central European office market, supporting the reduction of consolidated net debt.

Fully aware of the impact of the difficult decisions taken during 2025 and at the beginning of 2026 in a demanding market environment, the company remains confident in the successful delivery of the 2025–2027 plan.

This confidence is based on the strength of Atenor’s teams and the resilience of its portfolio, which, following this disposal, consists of 62 percent residential assets, representing more than 5,500 homes.