Kinstellar is delighted to announce that it has successfully advised its client, Ideal Projects (a joint venture between the Vetimex and Mirus groups) on the successful negotiation, signing, closing and refinancing of the Cluj-based Vivido, Advancity, and Cube office projects. This is the largest office acquisition outside Bucharest in Romania this year, with a total value exceeding EUR 30 million.
The three projects exceed 18,000 sqm of GLA and represent the newest additions to Class-A Cluj office stock. Work on this matter included all aspects of the transaction: due diligence, negotiating and signing all transaction documentation, title insurance, refinancing, and regulatory matters.
The transaction team was led by Associate Andreea Grigorie and Managing Partner, Victor Constantinescu and with support from Associates Bianca Marin and Mădălina Perțe.
Victor adds: "We are delighted to get this project across the line for our client after months of hard work. It continues to show Kinstellar's expertise at closing prime property transactions in Romania."
Kinstellar is a leading independent law firm in Emerging Europe, Turkey and Central Asia, with 11 offices and over 250 local and international lawyers. We deliver consistent, joined-up legal advice and assistance across diverse regional markets, focusing on the specifics of each country. This transaction proves once again that Kinstellar Romania has a top-notch real estate practice after having recently advised on some of the most important transactions on the local market.