Saturday, 10 May 2025
On February 28, 2025, investment company Solida Capital Europe announced its entry into the Romanian real estate market with the acquisition of the Victoria Center office building from Manova Partners, formerly Macquarie Group. Colliers acted as the buyer’s advisor in the transaction.
Victoria Center is located on Calea Victoriei in the heart of Bucharest’s business district. The property offers approximately 8,600 square meters of premium office space and holds a BREEAM In-Use certification with an Excellent rating, reflecting its modern and sustainable design. It is home to leading tenants from the legal, IT, and financial services sectors, including Aon Romania, nShift, Botezatu Estrade & Asociații, and Eversheds Lina & Guia. Additionally, the Embassy of the United Mexican States in Romania recently selected the building as its headquarters. The Central Business District continues to be the most sought-after location in Bucharest, experiencing a nearly 20% rise in rental rates over the past two years, the highest increase in the city.
Joao Saracho, Managing Director of Solida Capital Europe, emphasized the strategic importance of this acquisition, describing it as part of the company’s broader plan to expand its real estate portfolio in Central and Eastern Europe. He noted that the investment aligns with Solida’s mission to capitalize on growth opportunities in dynamic markets and create value through asset management expertise. This transaction, the company’s first in Bucharest, signals further expansion opportunities in the region.
Colliers played a key role in facilitating the transaction, providing advisory services from the initial stages through to completion. Robert Miklo, Head of Capital Markets at Colliers, highlighted Solida Capital’s well-planned entry into the Romanian market and expressed confidence in the investment’s potential. He also emphasized Colliers’ anticipation of Solida’s continued expansion in the country. Stefania Baldovinescu, Senior Partner for Asset Services at Colliers, welcomed Solida Capital to the market and announced that Colliers would be providing property management services for Victoria Center.
The Romanian real estate investment market concluded 2024 with a total transaction volume of EUR 750 million, recording the highest transactional activity growth among the six largest economies in Central and Eastern Europe, including Bulgaria, the Czech Republic, Hungary, Poland, and Slovakia. Colliers consultants predict a strong performance for 2025, supported by an active transaction pipeline. Ongoing negotiations, valued at approximately EUR 500 million, suggest that investment volumes this year may surpass those of 2024.
