- Home
- News & Insights
Search by
Latest
Kinstellar announces new series of promotions across multiple service lines in our Bucharest office
Kinstellar is proud to announce a recent series of promotions within our Bucharest office for both lawyers and tax and finance specialists. These promotions underscore our firm's commitment to recognizing and rewarding our team members who have excelled in developing their practices, shown independence in managing matters, and brought significant contributions to serving our clients' needs. We highly appreciate their efforts and are therefore pleased to announce the following: Promotions to Managing Associate Andrei Balus, Nicoleta Florea, Iunia Nagy, Andrada Popescu, and Corina Stanciu are all promoted to Managing Associate. Their expertise spans across Corporate M&A, Banking and Finance, Tax and Financial
Kinstellar advises Solida Capital on its expansion into the Central and Eastern European market with the acquisition of Victoria Center in Bucharest
Kinstellar is pleased to announce that it has advised Solida Capital, a leading investment and asset management firm, on its first office acquisition in Romania—the purchase of Victoria Center from Manova Partners (formerly Macquarie), an internationally active independent real estate investment company. This transaction marks a significant milestone in Solida Capital’s expansion into the Central and Eastern European (CEE) market. Located on Calea Victoriei, one of Bucharest’s most prestigious business addresses, Victoria Center is a prime office building with a Gross Leasable Area (GLA) of 8,600 square meters across 10 floors, including ground-floor retail space and 92 parking spaces. The property has been consistently
But I didn’t know?! Required compliance by Romanian real estate developers with Romania’s (stricter) anti-money laundering obligations
Are you a real estate developer in Romania? Do you have as your primary activity NACE Code (Cod CAEN) 4110 – “Development of building projects” (i.e. the newly NACE Code 6812 as per the recent NACE Rev. 3 classification)? If so, you should be aware that you are qualified as an “obligated entity” for purposes of Romanian anti-money laundering legislation compliance. And the National Office for Prevention and Control of Money Laundering (the “ONPCSB”) is actively auditing real estate developers for compliance. Below are some of the key principles to keep in mind. Background The European Union passed Directive (UE) 2015/849 in 20 May 2015 (i.e., the 4th Anti-Money Laundering Directive).
Kinstellar advises Globalworth on the sale of logistics portfolio in Romania to CTP
Kinstellar is delighted to announced that it has advised Globalworth, a leading office investor in Central and Eastern Europe (CEE), on the sale of a part of its logistics portfolio to CTP, the largest owner and developer of logistic and industrial spaces by gross leasable area in CEE. The transaction was signed in March 2024 with closing having occurred in May 2024. This transaction is the largest real estate deal in Romania in 2024 so far. The portfolio comprises almost fully-let logistics and light-industrial facilities in Chitila and Afumati (near Bucharest), Oarja (near Pitesti), Giarmata (near Timisioara), Oradea and Arad. Kinstellar advised on all transactional matters, including drafting, negotiation and execution
Kinstellar advises the hospitality division of the House of Julius Meinl group on the purchase of the historic Hotel Ambasador in central Bucharest
Kinstellar is delighted to announce it has advised the hospitality division of the House of Julius Meinl on the completion of the purchase of the Hotel Ambasador, one of the most famous hotels in Bucharest. Operating continuously since 1937, it is an iconic landmark in the city. The transaction structure was complicated, as it involved different, numerous sets of owners and involving both share and asset transaction aspects. It took several months to negotiate and close. Julius Meinl intends to invest tens of millions of EUR to refurbish the hotel and bring it to the standards of its “The Julius” brand operating elsewhere. Kinstellar advised on all aspects of the matter, including real estate due diligence
Kinstellar advises SFC Solutions on the sale-and-leaseback of its industrial facilities to WDP Romania
Kinstellar is delighted to announce that it has advised SFC Solutions Automotive Romania, a leading automotive-parts producer, on the sale-and-leaseback transaction of an industrial site, to the Belgian logistics property developer, WDP Romania. The facility is situated in Arges county, in an established automotive production cluster centered around Dacia Renault’s production facilities. The facility has a gross lettable area of ca. 20,000 sqm and will be rented by the seller under a long-term lease. Our team’s work on the matter included assistance on all due diligence matters, negotiations and finalization of all transaction documents. Victor Constantinescu, Managing Partner of the Bucharest office
Kinstellar advises Jantzen Renewables on the sale of the Helios 1 photovoltaic cluster in Romania to OMV Petrom
Kinstellar’s team in Romania has advised Danish developer Jantzen Renewables ApS on its transaction with OMV Petrom, the largest integrated energy company in Southeast Europe, for the purchase of the Helios 1 photovoltaic cluster in Romania. With the installed power estimated to be approximately 710 MW, the cluster will be one of Southeast Europe's most significant photovoltaic projects, powering around 280,000 Romanian households annually. Kinstellar advised on all matters pertaining to the transaction, including on the due-diligence and the negotiations with OMV Petrom. The team was led by Iustinian Captariu, Partner and Co-Head of the firm-wide Energy service line, and by Victor Constantinescu, Managing Partner
Kinstellar advises S Immo AG on the acquisition of EXPO Business Park from Portland Trust
Kinstellar is delighted to announce that it has advised S Immo AG, a leading Vienna-listed real estate investor and developer, on the acquisition of EXPO Business Park, a three-building office complex in Bucharest, Romania, from Portland Trust. The transaction value remains confidential but, when closing occurs, it is estimated to be one of the largest commercial property transactions in Romania for 2022. Kinstellar advised on all legal aspects, including full due diligence, transaction documentation, and other matters. S Immo AG is a leading real estate investment company focusing on Austria, Germany and CEE, with 70% of its portfolio consisting of commercial properties (offices, shopping centres and hotels). With