Key Projects

Acquisition and sale of office and residential buildings

We acted as legal advisor for Deutsche Bank Group on all aspects of Romanian law in connection with the EUR 341 million forward-purchases of real estate projects and related financing, the largest transaction concluded so far in Romania in this field.
We provided legal assistance to GTC, a leading real estate developer in Central and Eastern Europe, in drafting and negotiating transaction documents and in relation to all other legal aspects regarding the sale of America House, an “A” class office building located in the central area of Bucharest and having a gross lettable area of over 27,000 sqm. The value of the transaction amounted to EUR 120 million.
We provided legal support to Fabian Fund in conducting a due diligence investigation and in preparing and negotiating the transaction documents in view of acquisition of Baneasa Business Center, an office building located in Bucharest area, having a lettable area of approximately 9,600 sqm. The value of the transaction amounted to approximately EUR 11 million.
We assisted the British based investment fund Charlemagne in relation to conducting a due diligence investigation and drafting and negotiating the transaction documents, for the forward-purchase of Cascade Park Plaza, an office building located in Bucharest having a lettable area of 15,000 sqm.
We also assisted Charlemagne for the purpose of implementing the multi-jurisdictional transaction consisting in the acquisition of 50% of the Asmita Gardens residential project, which is currently developed on a 27,000 sqm plot of land located in the central area of Bucharest. The value of the project is expected to exceed EUR 100 million.

Acquisition and sale of retail/shopping centers/logistic parks

We assisted AEW Europe, one of the world’s leading real estate investment managers, a subsidiary of the Paris-based Natixis Global Asset Management, during the acquisition process for the European Retail Park Targu Mures. The value of the transaction exceeded EUR 90 million.
We assisted Plaza Centers NV in relation to drafting and negotiating with the Romanian state and a private investor the conclusion of a public-private partnership project with Casa Radio. The project consists of commercial, leisure, office and residential spaces with a built area exceeding 360,000 sqm.
We provided legal assistance to Sonae Sierra, a major Portuguese shopping centre developer, by performing a due diligence analysis, preparing and negotiating the transaction documents and financing arrangements in view of the acquisition of River Plaza Mall – a development having a total lettable area of approximately 12,000 sqm. The value of the transaction amounted to EUR 42 million. We also assisted Sonae Sierra with similar operations in view of the acquisition of Craiova Mall, an innovative shopping and leisure center located in the central part of Craiova, with a total lettable area of 55,000 sqm. The value of the transaction exceeded EUR 40 million.
We assisted Austrian-based Europolis Real Estate Asset Management (part of Investkredit Bank group) in relation to the due diligence investigations and the acquisition of the entire Cefin Industrial Park. Europolis’s stake in Cefin Industrial Park was increased after acquiring the Romanian company developing the second phase of the industrial park (approximately 313,000 sqm.) and the Romanian company holding the infrastructure facilities used by Cefin Industrial Park (approximately 57,000 sqm of land, together with private industrial railway facilities).

Acquisition and sale of lands

We rendered full range legal services (including due diligence and negotiation of sale and purchase agreements) to GTC in connection with the acquisition of certain plots of land exceeding an aggregate area of 115,000 sqm, for the purpose of developing Galleria Shopping Centers in various cities throughout Romania.
We assisted GTC in connection with the preparation and negotiation of the documents for the transaction whereby it acquired a surface of land of 105,000 sqm in Baneasa, near Bucharest (Felicity project).
We assisted GTC in relation to the acquisition of a land area of over 120,000 sqm located in the northern part of Bucharest.
We assisted GTC in relation to the acquisition of a land area exceeding 100,000 sqm located in the northern outskirts of Bucharest to develop a mixed use project (Garden of Eden).
We supported the Greek fund Bluehouse Capital during negotiations in connection with entering a joint-venture with the Israeli partner Rosebud Medical, and we assisted the resulting joint venture in the due diligence process, drafting and negotiations of transaction documents for the acquisition of a land having an area of approximately 60,000 sqm located in Bucharest, intended for residential and office development. The value of the transaction amounted to EUR 72 million.
We rendered full range legal services (including due diligence and negotiation support) to the Danish-based company Ingleby Holding in view of acquisition of agricultural lands of approximately 4,798 ha located in the Western part of Romania.
We assisted Ingleby Holding by performing due diligence investigations, drafting and negotiating sale and purchase agreements for the acquisition of significant areas of forestry lands in Romania.
We assisted Hammerer Aluminium Industries Gmbh and its Romanian subsidiaries in relation to the acquisition of a large plot of land in the Western part of Romania (including by performing title due diligence and analyzing urbanism and construction related matters, drafting and negotiating the construction agreement) in view of developing a production facility (i.e., an aluminum plant).
We assisted Quadrant Beverages SA, the Romanian subsidiary of Pepsi, in relation to the due diligence investigations, drafting and negotiating the sale purchase agreement for a land plot with an area of 8 ha, located in Ilfov County area, in view of developing a production facility.

Development of residential buildings

We assist GTC (including by drafting and negotiating sale and purchase agreements for sale of apartments to either individuals or investment companies) in respect of the development of Rose Garden, a residential project located in Bucharest, consisting of 11 residential buildings comprising also leisure and commercial spaces, with a cumulated built up area of 120,000 sqm. The value of the project exceeds EUR 80 million.
We assist GTC on a daily basis (including by ensuring drafting and negotiation of sale and purchase agreements for sale of apartments to either individuals or investment companies) with respect to the development of Felicity residences, a residential project constructed on a 60,000 sqm plot of land located in the Northern part of Bucharest. The projected built up area of this developments is 130,000 sqm and it includes 8 high class residential buildings. The value of the project exceeds EUR 130 million.
We assist Asmita Gardens SRL (including by ensuring drafting and negotiation of sale and purchase agreements for sale of apartments to either individuals or investment companies) in respect of the development of Asmita Gardens, a residential project comprising also commercial spaces, located in Bucharest.

Development of office buildings/logistic parks

We provide legal support on a daily basis (including by drafting and negotiating lease agreements, as well as with respect to current issues regarding legal relationships with contractors and suppliers) to Globe Trade Center for the development of City Gate, an “A” class office building located in the Northern part of Bucharest having a lettable area of more than 76,000 sqm. The value of this project is anticipated to be over EUR 110 million.
We currently provide legal assistance (including on drafting and negotiating lease agreements as well as contracts with contractors and suppliers) to Bluehouse Capital for the development of Victoria Center, an office building having a lettable area of 12,000 sqm.
We provide Bluehouse Capital with legal assistance (including for drafting and negotiating lease agreements, as well as with respect to contracts with contractors and suppliers) in respect of the development of Olympia Tower, an office building with a lettable area of approximately 10,000 sqm.
We provided legal services to this prime class real estate developer acting on the Romanian real estate market in relation to the financing and development of a 45,000 sqm. “A” class office building located within Bucharest ground zero area.

Development of retail parks/shopping centers

We are currently assisting GTC (including by drafting and negotiating leases and providing legal input on current issues or matters related to the legal relationships with contractors and suppliers) for development of a network of six shopping centers situated in prime class locations in Buzau, Piatra Neamt, Suceava, Arad, Bistrita and Galati (having each a lettable area ranging from 10,000 sqm to 20,000 sqm.) The envisaged cumulated value of this investment exceeds EUR 100 million.
We provided full range legal services to the UK-based Miller Group (the UK’s largest privately owned house-building, property development and construction business) in connection with the leasing and day-to-day management of Magnolia Centre, a shopping centre located in Brasov and having a lettable area of 7,500 sqm.
We assisted Jupiter Pitesti SRL, Romanian subsidiary of Israel-based Dundee Group for securing Carrefour as anchor tenant in its retail park recently opened in Pitesti.
We assisted Plaza Centers NV in respect of the largest private-public partnership yet to be developed in Romania, together with the Ministry of Transportations, with a value exceeding EUR 200 million. The project consists of commercial, leisure and residential spaces with a built area exceeding 360,000 sqm.

Leases

We ensured legal support to Portugal-based Millenium Bank in connection with the conclusion of lease agreements for its headquarters and for premises for its branches located in different cities throughout Romania.
We assisted software solution provider Wizrom in the negotiation and conclusion of a lease agreement for office premises exceeding 2,000 sqm in the S-Park office building.
We provided legal assistance to Oracle Romania SRL in the negotiation of a lease agreement for headquarters premises of 7,280 sqm in Floreasca Business Park.
We acted as legal advisors for BoB Development SRL, further to its acquisition by a Deutsche Bank real estate division, in relation to the drafting and negotiation of lease agreements for office premises within an “A” class office building developed in the Northern outskirts of Bucharest.
We assisted Upground Estates SRL, the developer of the Upground project sold to Deutsche Bank Group, in drafting and negotiating the lease agreements for office premises within an “A” class office building developed in the Northern outskirts of Bucharest (including the leasing by a large Romanian bank of a property of approximately 11,000 sqm). We are currently assisting Deutsche Bank in the leasing activity of the office building further to its acquisition from the developer.

FIDIC-based construction contracts

We assisted Bluehouse in respect of drafting and negotiating the specific conditions to the Conditions of Contract for Construction having as subject matter the development of Victoria Building, on both Yellow Form (construction of slurry walls for the basement of Victoria Building) and Red Form (construction works for the entire Victoria Building).
We assisted Bluehouse in respect of drafting and negotiating the particular conditions to the Conditions of Contract for Construction having as subject matter the development of Olympia Office Building.
We assisted Bluehouse Capital in respect of drafting the particular conditions to the Conditions of Contract for Plant and Design Built in view of developing a shopping center in Zagreb, Croatia.
We assisted East and Center European Venture Capital in respect of drafting and negotiating various particular conditions to the contractual documents based on Orange FIDIC Form regarding various works related to the construction of Cascade Park Plaza office building. In addition, we assisted East and Center European Venture Capital in respect of drafting the particular conditions to the Short Form of Contract having as subject matter partial works to be performed for the completion of Cascade Park Plaza Building.
We assisted the lender in relation to reviewing and amending the particular conditions of a FIDIC Silver form of contracts to be concluded by a borrower in connection with the development of an industrial facility in Timisoara.

Infrastructure

We provided legal assistance to a premier engineering, construction and project management company in relation to contract re-negotiation with the Romanian National Company for Highways and National Roads in Brasov-Bors construction project.
We provided full legal assistance to Strabag AG in connection to its participation in the tender procedure for the award of the engineering, finance, construction, operation and maintenance project under public-private partnership for a 65.2 km highway between Bucharest and Ploiesti; we provided legal advice throughout all project stages until the contract was to be initialized and approved by the Ministry of Transports.
Until the Romanian Government suspended the project, we assisted the consortium consisting of Ashtrom and Roichman construction companies in connection with the tender and award of the engineering, finance, construction, operation and maintenance public-private partnership contract for Predeal-Cristianu Mare section of Bucharest-Brasov highway.
We provided legal assistance with respect to intended expansion/development of airport related facilities (inter-modal terminal, multi-purpose buildings, etc.) and logistic park in Timisoara, offering preliminary advice with respect to alternative commercial and financing arrangements, procedural and administrative matters.
On behalf of Nabucco Company Pipeline Study and Transgaz S.A., we provide legal assistance in connection with an international project to construct and operate a natural gas pipeline linking production areas in the Caspian Sea and Middle East regions to Central and Western Europe (currently being included in the European Union plan for securing energy resources).

Financing of real estate projects

We assisted GTC in obtaining a financing of over EUR 30 million extended by Alpha Bank for the finalization of City Gate project, a major office building project in the Northern part of Bucharest.
We provided advice to RREEF Real Estate (part of RREEF Alternative Investments, the global alternative investment management business of Deutsche Bank’s Asset Management division) in relation to the financing of a EUR 341 million transaction concerning the acquisition of two office buildings and two residential buildings located in the Northern part of Bucharest.
We assisted a syndicate of banks (Caixa d’Estalvis i Pensions de Barcelona acting as agent) in connection with Romanian law aspects of the refinancing of the takeover financing and short term financing of a major Spanish real estate developer with subsidiaries and projects in Romania. The total value of the worldwide facility is EUR 4 billion.
We assisted Globe Trade Center (GTC), a major real estate developer in Central and Eastern Europe, in relation to the financing facilities for developing two residential projects, Felicity and Rose Garden. We also assisted GTC with respect to financing for the development of four shopping malls in some of Romania’s cities (Buzau, Piatra Neamt, Suceava, Arad). The value of the deals exceeds EUR 60 million.
We assisted Emporiki Bank of Greece and Emporiki Bank Romania in financing two major real estate developers, GE Real Estate Equities and Helios Phoenix, in relation to the development of a network of seven “A” Class multi-let logistics parks in six major cities of Romania. The deal is valued at over EUR 77.8 million.

Expertise