Smartown Group sells historic Bucharest office building at 8.2% yield
Romanian real estate investor and developer Smartown Group has completed the sale of the historic Dionisie Lupu office building in central Bucharest at a yield of 8.2%. It did not disclose the buyer.
Located at 70–72 Dionisie Lupu Street near Piața Lahovari and Bulevardul Magheru, the 2,470 sq m property comprises two interconnected office buildings over four floors and is fully let to tenants including Cyber Ghost, Instore Power Provider and Med Beauty. Built in 1866, it underwent a comprehensive structural consolidation and refurbishment in 2013–2014.
The building features variable refrigerant volume (VRV) air conditioning, an on-site power plant and 67 dedicated parking spaces, with energy-efficient systems designed to improve comfort and reduce operating costs.
“The sale of Dionisie Lupu Office Building marks a strategic milestone in our portfolio optimisation process,” said George Dragan, chief executive officer of Smartown Group.
He added that the company is handing the asset to “a real estate group we trust will continue to enhance its potential in the heart of Bucharest.”
Smartown said the transaction aligns with its strategy of combining sustainable modern office spaces with unique historical villas across its Romanian portfolio.
