CBRE strengthening market leadership – Successful sale of three office buildings
Europoint Office located in Podgorica, Montenegro represents one of the most recognizable office buildings spreading across 5,100 sqm of leasable area. In this off-market deal, CBRE approached the well-known Swedish investor – Savana AB who already transacted in Podgorica, namely Mall of Montenegro and Hotel Ramada cementing CBRE's strong relationship in place with this private equity group which plans to continue expanding across the SEE region.
Built in 2004, Stekleni Dvor office complex offers a rentable area of approx. 12,200 sqm in the major CBD avenue – Dunajska cesta. The transaction was exclusively prepared and executed by CBRE. Within the scope of an international market approach, the transaction was presented to domestic as well as foreign investors. The purchaser is KD Adriatic Value Fund, Special Investment Fund, an alternative investment fund managed by KD Funds, with Peakside Capital acting as investment advisor.
– Since moving across to CBRE as a team, we continue to be market leaders for Capital Market transactions across the SEE region. After opening up the retail sector with numerous landmark transactions in the previous three years, we have begun the process of opening up the office and hotel market segments and expect this trend to continue in the upcoming years. With two institutional investors acquiring major class-A office properties in Slovenia and one in Montenegro, we see the long expected interest by institutional capital entering further into other countries within the SEE region rightfully so – Uroš Grujić, Head of Investments at CBRE South Eastern Europe (SEE), says.
– By year-end, we expect the closing of two additional office transactions in two different capital cities, with the idea and goal of continuing to attract other institutional names looking to deploy capital within the SEE countries, offering higher yielding opportunities than in traditional CEE markets such as Poland, Czechia or Romania where international capital has been present for over a decade.
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