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GLL Real Estate Partners could sell Floreasca Park office project

German asset management company GLL Real Estate Partners has put up for sale the Floreasca Park office project.

2019-03-13 12:00:41

The project is located on Pipera road near the intersection with Barbu Vacarescu boulevard and could be sold by GLL Real Estate Partners, according to data from the real estate market and quoted by Ziarul Financiar.

In 2015, German investment fund GLL Real Estate Partners purchased the Floreasca Park office project in Bucharest from its developer Portland Trust for over 70 million Euro. GLL Real Estate Partners already owns in Romania the Charles de Gaulle Plaza office building close to the Aviatorilor subway station.
Floreasca Park is located in northern Bucharest, near the Pipera road ovepass, and it consists of two office buildings totaling some 38,000 sqm (GLA).

The project's biggest tenant is computer technology giant Oracle which occupies some 20,000 sqm. Floreasca Park is the seventh project developed by Portland Trust in Romania. The developer has been active locally since 1999 and has built some 260,000 sqm of office space. Other office projects developed locally include Opera Center, Bucharest Business Park and Floreasca 169A.


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