Reff & Associates, the law firm representing Deloitte Legal global network in Romania, provided legal assistance on Romanian law matters to the investment fund NEPI Rockcastle, in respect to the sale of an office buildings portfolio to AFI Europe. With a value of over 300 million euros, this is considered the largest transaction in the history of the local office buildings market.
The transaction has been executed and is subject to Competition Council approval.
The portfolio sold by NEPI Rockcastle is comprised of eight class A office buildings located in Bucharest and Timisoara, namely Floreasca Business Park, The Lakeview, Aviatorilor 8, in Bucharest, and Timisoara City Business Center, in Timisoara. The total leasable area of the sold portfolio is 118,500 square meters.
The project preparation legal work and the assistance provided by Reff & Associates’ real estate tem lasted for over one year and covered all the transaction aspects governed by the Romanian law.
The project team was coordinated by Irina Dimitriu, Partner and head of the real estate practice of Reff & Associates, and was comprised of Simona Iacob, Senior Managing Associate, Maria Nitulescu, Senior Associate, Ioana Georgescu-Muresanu, Senior Associate, Diana Stan, Senior Associate, Calin Georgescu-Muresanu, Senior Associate, Alexandru Butusina, Associate.
For over a decade, Reff & Associates has been consistently recognized as a leading law firm in real estate in Romania, having been involved, either sell-side or buy-side, in the majority of the largest real estate deals in the country, both in office and retail spaces transactions. The 2019 edition of Legal 500 EMEA once again recognizes Reff & Associates as a Tier 1 practice for real estate and construction, citing client quotes which appreciate the firm’s real estate lawyers as “excellent professionals”, “flexible, equitable and innovative in identifying solutions”.
With a team of over 70 lawyers, Reff & Associates is recognized as a leading law firm in Romania for the quality of services and ability to deliver solutions on complex legal matters. The areas of practice include banking & finance, competition law, employment law, energy and environment law, insolvency law, litigation, mergers & acquisitions, public sector, real estate. The firm represents in Romania Deloitte Legal, a global network with more than 2,500 lawyers in 85 countries.