02. Real Estate and Insolvency
Legal Overview and Expertise
The Romanian Real Estate market has developed continuously, being considered a solid market within the East Europe. As per the data published by CBRE Romania, the volume of real estate investments exceeded EUR 1 billion in 2019, reaching about EUR 1,06 billion after a 7% annual advance compared to 2018. Although the first major office projects initially started in the north area of Bucharest, the investors have now begun to also consider other areas (Grozavesti, Timpuri Noi, Tineretului) or even other cities (such as Cluj, Timisoara). As per the JLL report, over 1 million sqm of new projects (both office and logistics) are planned to be delivered in 2020, mainly in Bucharest.
assisting an important investor in the acquisition of an office building in a transaction of EUR 50 mil - we were part of the team involved in the due diligence process (reviewing of the title documents and the lease agreements, drafting red flag report and full DD report; summarizing the lease agreements), review of the SPA, negotiations and other commercial and legal aspects;
assisting a client with the sale of a well-known DIY store in a transaction of EUR 30 mil - we were part of the team involved in the due diligence process, drafting the SPA, the neighboring agreement and the servitude agreement where have been addressed several legal aspects such as the obligation of the retail park to ensure the minimum number of the parking spots;
assisting an owner of a retail park to draft and negotiate the lease agreement concluded both with anchor tenants and with smaller ones, addressing several aspects within the negotiation, such as break-option clauses, go-dark clauses, fit-out work schedule and conditions, base rent and turnover rent, securities etc.;
assisting a client in the sale of a hotel located near Bucharest in a transaction in amount of approx. EUR 3 mil.
Whether you are a legal person looking for an office to rent or a legal entity interested in acquiring or selling an immovable property, leasing office spaces or industrial warehouses, in order to be sure that your transaction is sheltered from any potential risks, we consider that a professional legal input is mandatory.