Last checked at 1 Jul 2015 07:00
Globalworth Real Estate Investments Limited
Globalworth closes Green Court Building A from Skanska Romania
Guernsey, 1 July 2015: Globalworth Real Estate Investments Ltd. (AIM: GWI) ("Globalworth" or the "Company"), the real estate investment company targeting opportunities in Romania, is pleased to announce that it has closed the previously announced acquisition of Green Court Building A. The transaction was effected through the acquisition of 100% of the shares of SPC Beta Property Development Company s.r.l., the company owning the asset, for a consideration paid to Skanska of circa Euro 42 million from existing cash resources.
Green Court Building A is a prestigious, newly built A-class office property development, strategically located in Bucharest's new central business district, very close to Globalworth's existing Bucharest One development and on the same street as the recently acquired Nusco Tower building and Gara Herastrau development. It was valued at €45.6 million as at 31 December 2014.
Green Court Building A has a leasable area of 19,500 sqm and was officially opened at the end of October 2014. It is now 100% leased with Schneider Electric Romania and Orange Romania being the main tenants on long term leases. The property has received LEED Gold certification.
For further information visit www.globalworth.com or contact:
Panmure Gordon (Nominated Adviser and Joint Broker Tel: +44 20 7886 2500
Andrew Potts
Cantor Fitzgerald Europe (Joint Broker) Tel: +44 20 7894 7000
Rick Thompson
David Foreman
Milbourne (Public Relations) Tel: +44 20 3540 6458
Tim Draper
About Globalworth
Globalworth Real Estate Investments Limited is a real estate investment company founded by real estate investor and developer Ioannis Papalekas currently focused on taking advantage of investment opportunities in Romania. The Company is Guernsey incorporated and has been declared by the Guernsey Financial Services Commission to be a registered closed-ended collective investment scheme. The Company's shares were admitted to trading on AIM in July 2013.
The Romanian market offers an attractive real estate investment proposition in the medium-to-long term. Globalworth believes that global investor capital flows will gradually move from markets considered as "safe havens" to more peripheral markets such as Romania in search of higher yielding investments. As a result, Romania should, in due course, become a more attractive destination for a wide investor audience. Globalworth anticipates holding an early mover advantage in and benefitting from this gradual shift in investor sentiment.