Experiences, of any kind, lessons, numbers, celebrations and years together with people – these are the attributes of 15 years of full activity in Romanian real estate for Crosspoint.
“If I’ve learned something in these 15 years of Crosspoint Real Estate I know for sure that everything is in the power of the people: teams, partners, clients. As entrepreneurs, you may have an excellent vision of business, but without the right people, in every stage you cross, it’s nothing, so special thanks to our team”, says Codrin Matei, Managing Partner Crosspoint Real Estate.
We all know that real estate market is one of the most interesting markets of all, exactly because it involves so many people: developers, realtors, builders, architects, designers, lawyers, notaries and, of course, financial key people.
Over the time, with all of these parts involved, Crosspoint Real Estate has achieved many great transactions. “We gratefully remember some of the key-moments in our experience. First that comes in my mind is the transaction of Day Tower office building in 2019, not just because of its value, but mostly because of the great yield of this transaction, less than 7%, a yield achieved after more than 10 years in this market. So, yes, we really enjoy performance, not just the closing of a deal”, Codrin Matei explained.
Achievements over the years
Day Tower transaction had a value of 34 million euros, the seller is Day Group, the buyer is CFH and it is the biggest deal that Crosspoint has closed to this day.
Among the great deals that the company has brokered there are 2 land transactions in Expozitiei area, Bucharest, with over 45,000 sqm and with a total value of 20 million euros. In new office hub that is emerging in Grozavesti, Crosspoint has also successfully closed 2 land transactions, of almost 21,000 sqm, worth 11 million euros. Thus, Crosspoint has proved itself as the market leader in the land segment.
The international association
“For me these 15 years of the company were the biggest evolution that my career had. I think I was part of every sector of the real estate market, a market that offered me every chance and challenge that I needed to get here, at a point where we celebrate 15 years with successful performances as the amazing international association with Savills and a new office in one of the most beautiful office building in Bucharest – Ethos House”, Mihai Dumitrescu said, Managing Partner of Crosspoint Real Estate.
Crosspoint Real Estate become an international partner of Savills in 2017 and in 2019 become international associate. “Crosspoint has an excellent reputation in Romania and we were very pleased to make them a full Savills associate last year. We look forward to continue helping local and global clients benefiting from their market knowledge”, says Philip Ingleby, Chief Operating Officer, Savills Europe & Middle East.
“We go home, or we go high?”
Codrin Matei and Mihai Dumitrescu started the company in 2005, from an initial investment banking & high-end residential consultancy company, the market evolution in the recent years and the related opportunities brought a transformational period for Crosspoint, becoming a full-service commercial real estate advisory firm. The strongest services that the company delivers are in the office, industrial, land and residential consultancy, valuation services or project management.
“Romania right now, except the current sanitary crisis, is a market full of opportunities and with high potential in the industrial sector, we know that the land transactions never stop and also we believe that the office sector will continue through its development – and this is only because the human interaction cannot ever be replaced”, said Mihai Dumitrescu.
He thinks that the residential sector will always meet a human need – to have your own house, so even with a pause due to sanitary crisis, this need and investment, at the same time, will be accomplished even in the future.
“This entire journey brought us a lot of lessons and crises that we crossed. As for everyone the 2009 recession was an turning point and the exit from this kind of “hibernation” in 2012 made us ask ourselves if we go home or we go high and we chose to continue by being the best at what we do and now, in other type of crises we can promise to our partners and clients that we will be there for them every step of the way. And we truly believe that this is only another lesson that will make us all even better, because we’re going through this together and regardless the times, we are still us – your partner”, Codrin Matei concluded.
An article published in the exclusive supplement – “Market pulse report, Romania – The new normal” | June 2020
A property market tour, including major cities, with projects status and updated opportunities at the end of the lockdown in Romania – June 2020. | Essential news with the current status of further investments, clients and partners relations, new priorities for the post crisis cycle. | B2B communication report – to help you mark your statements during the changes period.