01The Challenge
Allianz-Țiriac Asigurări, one of the leading insurance companies in Romania, decided to divest two former headquarters located in the highly sought-after Victoriei Square area of Bucharest. The properties, positioned in a central and established office submarket, represented valuable real estate assets with strong long-term potential, but required a carefully calibrated sales strategy to maximize value.
The challenge was to organize two separate transactions in a market characterized by increased selectivity and uncertainty, while ensuring both assets attracted buyers capable of repositioning and revitalizing the buildings. Given the prime location and different characteristics of the two office properties, the process demanded a nuanced advisory approach and deep understanding of investor’s appetite for centrally located assets.
02The Solution
Allianz-Țiriac Asigurari appointed Cushman & Wakefield Echinox as its real estate advisor throughout the transaction process. The advisory mandate was led by a multidisciplinary team including Cristi Moga, Head of Capital Markets, Mihaela Pană, Partner, Private Investments, and Alexandru Mitrache, Head of Transactions Land & Investment. Our team structured and managed the sale of both properties, advising the client on positioning, investor outreach, and transaction strategy.
03The Results
The office building located on Căderea Bastiliei Street, with approximately 6,000 sq. m of gross leasable area, was successfully acquired by Praktiker Real Estate, while the second building, located on Grigore Alexandrescu Street and offering around 4,000 sq. m of leasable space, was acquired by Primavera Development, a developer with experience in office and premium residential projects.
The successful completion of both transactions marked an important signal for the Bucharest office investment market, confirming renewed momentum and sustained investor interest in centrally located assets. The fact that both buildings were acquired by local investors highlights continued confidence in the Romanian real estate market and in the long-term potential of well-positioned office properties.
