Hili Properties plc acquires majority stake in prestigious office building in Romania

Hili Properties plc, Hili Ventures’ strategic real estate investment subsidiary, announced on Friday that it has acquired a 75% stake in Baneasa Real Estate SRL. Baneasa Real Estate SRL, from leading Romanian developer Speedwell, is the owner of his impressive Miro office building in his Baneasa district of Bucharest.

Hili Properties plc has also agreed to enter into an agreement to acquire the remaining 25% stake within two years. Commissioned late last year, Miro is a Class A complex boasting his 23,000 sqm rentable area on five floors and his 1,700 sqm outdoor plaza. Bucharest’s excellent location along the DN1 highway gives direct access to the city centre, the business he hub and the airport.

An extensive list of reputable tenants includes KPMG, Rovere, COS, Eaton, Neoclinique, Speedwell, Stradale/Mitzu, Jura and Hisky. The Miro is designed to be a unique and inspiring workplace, with layouts and facilities that create an inspiring space. The facility has been developed with a focus on resident well-being and sustainability as evidenced by the BREEAM ‘Excellent’ and WELL ‘Platinum’ certifications. George Kakouras, Managing Director of Hili Properties plc, said: We look forward to working with Speedwell to manage Milo and improve tenant satisfaction.

Miro provides us with a solid, long-term investment and fits perfectly with our strategy of building asset potential for the benefit of our shareholders, tenants and communities. It is a testament to our vision to positively impact the communities we invest in through the buildings we make possible. Continued/…his CEO and co-founder of Speedwell, Didier Balkan, adds: Knowing that our vision to properly manage, maintain and further develop Milo as one of the key office bases in the Baneasa region aligns, Hiri has selected Properties as a partner for Milo. I am very happy to welcome you. ”

Miro will increase Hili Properties’ portfolio value from €173.8 million to €234.2 million and increase total leasable area to 119,092 square meters. The company’s portfolio consists of his seven shopping centers centered around grocery stores in Riga, the capital of Latvia. Private hospital in Bucharest, Romania. Real estate housing restaurants in major commercial districts of Estonia, Latvia, Lithuania, Malta and Romania. Factory in Klaipeda Free Economic Zone, Lithuania. He has three dedicated business blocks and office space in Sliema, Marsa and Floriana, Malta. Its tenants include Premier Restaurants, Swedish-owned supermarket giant Rimi, Norwegian newsagent/convenience store His Narvesen, and international industrial materials manufacturer inquiries Hili Properties plc acquires majority stake in prestigious office building in Romania

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