București Real Estate

Colliers International, assigned Property Manager for Phoenix Tower and Construdava

 The real estate consultancy company Colliers International Romania was appointed by the Adam Europe Group to take over the management of Phoenix Tower and Construdava office buildings. With these two new projects, Colliers International strengthens its position on the property management market in the office sector and the overall managed portfolio reaches a total of over 300,0A00 leasable sqm.

The two office buildings are located in renowned business areas of the Capital and represent important IT hubs. Construdava is located in northeastern Bucharest, on Pipera-Tunari road. The building has a gross leasable area of approximately 9,400 sqm and its main tenant is Metro Systems Romania, the IT division of the Metro Group. The Phoenix Tower project is located in the central area of ​​Bucharest, near Bucharest Mall. With a gross leasable area of approximately 10,000 sqm, the building’s main tenants are companies such as Zitec, Netop and EBS Romania.

„The seven years of activity on the property management market have allowed the Real Estate Management Services department to constantly increase and diversify its managed portfolio, which has started from office buildings and has expanded to industrial parks and private hospitals. The office segment remains, however, representative and very well developed in our portfolio which, with the addition of Construdava and Phoenix Tower, reaches a total of over 300,000 sqm”, said Stefania Baldovinescu, Senior Partner and Director of Real Estate Management Services at Colliers International.

Adam Europe, through Hoshen Holdings SRL, managed by Isaac Cohen Hoshen as CEO, acquired Phoenix Tower and Construdava in 2016 and 2017 respectively, and the two transactions were advised by Colliers International. The double acquisition marks the re-entry on the Romanian market of the group, which prepares the development of new residential projects, such as the Reveria project in eastern Bucharest, and the expansion of its office portfolio.

Colliers International Romania recently took over the management of the Art Business Center office building. The latter hosts the largest private hospital in Romania, Ponderas Academic Hospital, which is part of Regina Maria health network.

Colliers International’s Real Estate Management Services team provides full property management services, from tenant relationship management, to operational monitoring, financial services and ownership reporting.

The portfolio managed by Colliers International’s Real Estate Management Services team includes, besides Phoenix Tower and Construdava, office projects such as Art Business Center (Ponderas Academic Hospital), Hermes Business Campus, Green Court, Ethos House, Polona 68, Allianz Office Building Brasov and Stefan cel Mare Building, as well as three industrial parks in Timisoara, Brasov and Arad.

Colliers International Group Inc. (Nasdaq: CIGI) (TSX: CIGI) is a global leader in real estate consultancy, with over 15,000 specialists working in 68 countries. Colliers provides a wide range of services to end-customers, developers and investors, from brokerage, property and asset management, project management, investment and advisory services, valuations to market research, or products for banks. Colliers International has been included in the top 100 outsourcing companies by the International Association of Outsourcing Professionals’ Global Outsourcing in the past 11 years.

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