SPEEDWELL and BALTISSE sell RECORD PARK Offices to AYA Properties Fund

Speedwell and Baltisse closed the deal for the sale of RECORD PARK Offices in Cluj-Napoca. The commercial component of the RECORD PARK mixed-use project has been bought by AYA Properties Fund, a Belgian based real estate investment fund with focus on AAA-locations in South-Eastern Europe. The transaction’s value is EUR 35 million.

The project has 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. Speedwell’s project is also the first mixed-use and urban regeneration development in Cluj-Napoca. The ensemble also integrates 236 apartments, alongside the above-mentioned buildings.

RECORD PARK Offices have been finalized and delivered at the end of 2020. The A-class office spaces have been leased to a reputable tenant portfolio, such as MHP Porsche, MassMutual, Yardi, PoropertyShark, Stables, COS, Stradale, The Home, Artmark Dental, Mitzu Café and the Royal Charis Academy Kindergarten. The building received the BREEAM certification with an Excellent rating.
The transaction was subject to a complex due diligence process supported on the buyer’s side by KPMG for the Financial & Tax Due Diligence, JLL for the Technical Due Diligence and Țuca Zbarcea & Associates for the Legal Due Diligence.