Dedeman €120 million acquisition of The Office

Overview:

• Romanian entrepreneurial company Dedeman has acquired The Office in Cluj-Napoca from property group NEPI Rockcastle and real estate development firm Mulberry Development for €120 million.
• It has a leasable area of approximately 60,000 square meters and has 100% occupancy rates that generate €.5.1 million each year.
• The sellers developed The Office in 2017 and were equal part owners until the sale.
• Dedeman will acquire 95% of the business centre while the remaining 5% will be owned directly or indirectly by Dedeman owners Dragos Paval and Adrian Paval.

Rajeeb Gurung - Researcher