Țuca Zbârcea & Asociații advises AYA Properties Fund on its EUR 35 million acquisition of RECORD PARK Offices in Cluj-Napoca

Real estate developer Speedwell together with Belgium based Baltisse and AYA Properties Fund have concluded the transaction for the sale of RECORD PARK Offices. The components, subject to this transaction structured as a share deal, are valued at EUR 35 million, and combine 15,000 sqm of A-class office and retail spaces (including a historical refurbished building) and 2,000 sqm stand-alone sports center with pool.

Țuca Zbârcea & Asociații acted as Romanian legal advisors to AYA Properties Fund, a Belgian based real estate investment fund with focus on AAA-locations in South-Eastern Europe, with a mixed team of M&A and real estate lawyers under the coordination of Dragoș Apostol, Partner (on the transaction side), together with Oana Ureche, Partner, Amalia Dumitru and Ioana Mărculeț, Managing Associates (on the due diligence side).

"We are very pleased and proud to have acquired the Class A office part of RECORD PARK, a mixed-use development in Cluj, Romania. Given it's AAA location, quality tenants and BREEAM certificate, the project becomes a prime asset in our portfolio.", said Simon Synaeghel, Investment Manager at AYA Properties Fund.