Romania Solida enters Romania with Victoria Center deal

The ten-storey building is located on Calea Victoriei and comprises a total of 8,600 sqm, including retail space on the ground floor and 92 parking spaces.

Munich-based GLL Real Estate Partners acquired the building from Bluehouse in 2015 for about EUR 27 mln, before the platform was itself acquired by Australian multinational Macquarie Group in 2018. Last year, it was spun off from the group and became Manova Partners.

The completion of our first transaction in Bucharest represents an important step in the expansion of Solida Capital’s portfolio and our strategic presence in Central and Eastern Europe. We are confident that this market holds substantial opportunities for growth, and we are committed to further strengthening our footprint in the region while also creating significant value for our investors.
Jean Aboumrad, a founding partner of Solida Capital

This transaction not only marks Solida Capital’s entry into Romania but also sets the stage for further investments in the CEE region, a strategic area for the firm’s long-term growth. Through this move, Solida Capital aims to contribute to the ongoing development of the regional real estate market.

While our second exit in this market once again highlights available liquidity for high-quality assets in Romania, we also remain committed to Bucharest, where we still hold CDG Plaza, a landmark office building, and continue to look for attractive opportunities.
Florian Winkle, the co-CEO of Manova Partners

The buyer was advised by Kinstellar as the Lead Legal Counsel, Colliers in a Commercial advisory capacity, Ernst & Young for Financial and Tax matters, and SC Optim Project Management for Technical support. The seller was advised for the transaction by Peli Partners as the Lead Legal Counsel, iO in commercial advisory capacity, CMS for Tax & Financial matters and Sentient for Technical support.

Solida Capital is an investment and asset management firm with a focus on real estate and development projects across key European markets.

Manova Partners is an international property investment manager with app. EUR 12 bln in assets under management, across 170 properties in Europe, North and South America as well as in Australia.