SPEEDWELL has finalised an agreement with Hili Properties of Malta for the sale of 75 percent of the shareholding in Baneasa Real Estate, the owner of the MIRO office building in the Baneasa area. The remaining 25 percent shareholding will remain in SPEEDWELL’s ownership for a further two years. The MIRO building was delivered at the end of 2021.
Hili Properties, part of Hili Ventures, is a strategic investor in commercial real estate in Europe’s most thriving cities and up-and-coming cities and capital around Europe. In Bucharest, Hili Properties owns and operates the ART Business Centre which houses the Regina Maria Private Healthcare Network’s Ponderas Academic Hospital.
“This transaction once again proves that a quality asset always attracts a quality buyer, not in the least because it attracts high-quality tenants. We are very happy to have Hili Properties as our partner for MIRO, knowing that our visions are aligned in properly managing, maintaining, and further developing MIRO as one of the key office locations in the Baneasa area,” said Didier Balcaen, CEO and Co-Founder SPEEDWELL.
George Kakouras, Managing Director of Hili Properties, said: “We are delighted to extend our portfolio in Romania with this prime asset. We look forward to collaborating with SPEEDWELL on the management of the Miro and to increasing tenant satisfaction. Miro presents us with a solid, long-term investment and perfectly fits our strategy to build on the potential of assets for the benefit of our shareholders, tenants and the local community. The MIRO is a testimony of our vision to make a positive impact on the communities in which we invest through sustainable buildings.”
MIRO is a Class A mixed-use property with 23,000 sqm of leasable area spread over five floors with a 1,700 sqm outdoor plaza. It is excellently located on DN1 National Road of Bucharest, providing direct access to the city centre, the northern business hubs and the airport.
The property was developed with a focus on the well-being of its occupants and on sustainability, as evidenced by its BREEAM “Excellent” and WELL “Platinum” certifications. It has an extensive list of reputable tenants including KPMG, Rovere, COS, Eaton, Neoclinique, Speedwell, Stradale/Mitzu, Jura and Hisky.
The transaction was supported by Țuca, Zbarcea & Asociatii for SPEEDWELL and coordinated by SPEEDWELL’s internal legal and financial team. Legal advisors Musat & Asociatii, Deloitte, and Colliers were part of Hili Properties’ transaction advisory team.
