The Challenge
To achieve the optimal terms for our client (River Development), Cushman & Wakefield Echinox Capital Markets team organized a formal and competitive process in which we invited established investors and new-comers to Romania. The asset was a core + investment opportunity in the new Central – West office submarket of Bucharest. During the sanitary crisis that overlapped significant stages of the transaction, we managed several challenges related to uncertain circumstances, the impossibility to organize physical meetings and questions about the future evolution of the market.
The Solution
We ensured a strong “Why invest in Romania!” campaign around the sale, in order to enhance the investor pool and reach a wide range of investors. We organized a competitive process during a defined time-frame that created competition among investors, also to address all the concerns related to the building and to ensure that bidders were aware of the positive state of the building based on a high-quality construction specification.
The Results
We created a highly competitive climate amongst the bidders and successfully supported River Development in the sale of the property to Uniqa Group.
We delivered the expected results and a benchmark transaction for the local office-market, closed in the challenging Covid-19 period.
