A landmark asset on Calea Victoriei sold to a first-time Romanian market entrant in under nine months
Bucharest's most prestigious artery delivers one of its most coveted office transactions
Manova Partners sought to divest Victoria Center, a prime 8,600 sqm office building on Bucharest's most prestigious artery. iO Partners ran a structured, targeted process, closing the sale to Solida Capital, a buyer with no prior local presence, for a price fully aligned with the seller's expectations.
A Great Asset That Needed the Right Strategy
Victoria Center occupies one of Bucharest's most coveted addresses - Calea Victoriei, the main artery running through the heart of the CBD. The building's fundamentals were compelling: a landmark presence, excellent accessibility and visibility, strong space flexibility, and a tenant mix well-suited to its location. In autumn 2023, iO Partners launched a targeted marketing campaign reaching approximately 80 pre-qualified buyers, presenting it as a rare opportunity.
A Compelling Narrative. Creative Structures. Relentless Follow-Through.
- Built a strong sale narrative around the asset's irreplaceable location, technical specification, and income profile - leading with strengths rather than managing around weaknesses
- Developed innovative deal structures to address investor concerns around building age and vacant space, including a master lease arrangement to underpin income security
- Ran a targeted marketing process through the local Bucharest team, supported by iO CEE Capital Markets heads
- Maintained active investor engagement through multiple rounds of dialogue, ensuring no serious buyer was lost to unanswered objections
- Managed the full process from launch to legal close, ensuring deal certainty and a clean, timely execution
New Capital. Prime Yield. Target Price. On Time.
- Transaction closed in under nine months - strong pace for a deal requiring multi-round investor engagement and creative structuring
- Final price closely aligned with the seller's expectations
- Yield achieved as close to prime as possible - a strong signal of buyer conviction and advisory execution quality
- Asset acquired by Solida Capital - a first-time entrant to the Romanian market, bringing fresh institutional capital to Bucharest
- One of the highest levels of interest from new investors ever recorded for a Bucharest office transaction
A rigorous marketing process and innovative structures to overcome investor hurdles delivered an exceptional result - confirming the depth of appetite for well-located, high-performing office assets in Romania.
Andrei Drosu • Director • Capital Markets
To discuss investment opportunities in Romania's office real estate market, get in touch with our Capital Markets team in Bucharest - Andrei Văcaru, Managing Director Romania & Head of Capital Markets CEE, or Andrei Drosu, Capital Markets Director Romania.
Director • Capital Markets
Managing Director RO • Head of Capital Markets CEE • Executive
