Malta-based Hili Properties plc on Friday announced that it has entered into an SPA for the acquisition of the remaining 25 per cent of Baneasa Real Estate SRL, owner of MIRO Office Building in Bucharest, Romania.
As a result, Hili Properties will have the company’s full share capital by August 2024, after it acquired the initial 75 per cent earlier this year.
MIRO is a newly built Class A mixed-use property developed in the Baneasa area, with approximately 23,000 sqm of leasable area spread out over five levels and with a 1,700 sqm outdoor plaza. MIRO is described as having been built with a focus on the “wellbeing of its occupants and on sustainability”, as evidenced by its BREEAM “Excellent” and WELL “Platinum” certifications.
It is located in a convenient area, right on DN1 National Road of Bucharest, thus allowing for direct access to the city centre, the northern business hubs, and the airport. KPMG, Rovere, Cos, Speedwell and Jura are among the list of reputable companies that are tenants.
When the announcement was initially made in August, Hili Properties stated that the investment is a “testimony of our vision to make positive impact on the communities in which we invest through sustainable buildings”. The acquisition of this asset will increase the company’s portfolio from €173.8 million to €234.2 million.
Hili Properties owns and manages a number of commercial real estate for lease in the Baltics (Estonia, Latvia and Lithuania), as well as Malta and Romania. Its extensive portfolio includes dedicated business blocks and office space, shopping centres, healthcare facilities, and properties housing McDonald’s restaurants.
