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ROMANIA S Immo to buy Campus 6 second stage

Investment & finance
Austrian-based real estate company S Immo is to acquire the Campus 6.2 and 6.3 office buildings in Bucharest from Skanska for an undisclosed sum.

Campus 6.2 and 6.3, the second stage in Skanska’s development of the four-building Campus 6 office complex development in the city’s Centre-West submarket, comprise a total leasable area of almost 38,000 sqm and 463 parking places. They are 99 pct leased, with the key tenants being Microsoft and Société Générale European Business Services. The two eleven-storey buildings have been LEED ‘Gold’ and Well ‘Silver’ pre-certified. Campus 6.3 has already been completed while Campus 6.2 is to be delivered in Q1 2021. The transfer of the properties to S Immo’s portfolio is scheduled for Q2 2021.

Campus 6.2 and 6.3 are a first-class addition to our portfolio in Bucharest. We are absolutely convinced that the office market in the Romanian capital will continue to grow strongly following a slight, pandemic-related stagnation. Once completed, the two properties will add long-term value to S Immo’s CEE portfolio and will deliver positive contributions to earnings.
Friedrich Wachernig, a member of S Immo’s management board

Campus 6 will have a total leasable area of 81,000 sqm. The first phase (app. 22,600 sqm) was sold to CA Immo in 2018. The entire project is scheduled for completion in 2023. Among other amenities it will offer an amphitheatre, restaurants, cafés, banks, gyms, football pitches and tennis courts. Each building will be equipped with the Connected by Skanska mobile app for office users.

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