RTPR Allen & Overy has advised ING Tech, the global software development hub of the ING group, on the lease of an office space with an area of 13,000 sqm for the new headquarters of the company. The space is located in Dacia One building, next to former Victoria Casino and is developed by Atenor Group.
The team of lawyers who assisted ING on this deal included Alexandru Retevoescu (Partner), Ianita Tui (Counsel) and Cristi Porojanu (Associate), as well as lawyers from the banking and litigation and arbitration departments.
“We are happy to have successfully closed this transaction in the most favourable conditions for our client. The project has risen various complex and rather uncommon law aspects, but together with the ING Tech team we managed to find optimal solutions. We are keen to see the project successfully finalised and we are sure that the new ING Tech headquarters will become a landmark building for the centre of our city. We would like to thank ING for putting their trust in us once again and we hope that we will have the chance to continue our collaboration for other interesting projects in the future”, Ianita Tui declared.
The transaction marks a second collaboration in the real estate sector between RTPR Allen & Overy and the ING group. Recently, RTPR Allen & Overy assisted ING Bank in relation to the lease of its new office space located in Expo Business Park, where the bank’s headquarters is going to be relocated.
RTPR Allen & Overy has extensive experience in the real estate sector, both in real estate transactions, such as acquisitions, disposals, lease agreements etc. as well as on financings or litigations, assisting developers, real estate investments funds, contractors, financial institutions and other important players in the economy.
Selected real estate transactions in which RTPR Allen & Overy have been recently involved are set out below:
- Prime Kapital on the sale of a real estate portfolio consisting of nine retail centres with a total surface of 67,959 square meters to MAS Real Estate for a price of EUR112.97m
- Regus on the negotiation and rental of seven new locations (Anchor Group, Skanska, Unirii View, Dorobanti Offices, Portland Trust Developments, Sun Plaza, Tiriac), as well as constant consultancy on its projects in Romania
- Warehouse Services about a potential development and lease of a logistics park in Slatina
- DS Smith Plc group on the real estate aspects in relation to the acquisition of EcoPack and EcoPaper, two major producers of packaging and paper products on the Romanian market, which hold and operate two factories in Romania
- Prime Kapital – acquisition of a shopping mall in the west side of Romania
- Mitiska REIM – acquisition of a property located in Brasov, where a retail store is located
- Ruukki Romania, a member of the Swedish group SSAB, on the sale of its factory in Bolintin-Deal to Peikko Group Corporation, a Finnish company supplier of slim floor structures and connection technology for precast
- Hypothekenbank Frankfurt AG, a subsidiary of Commerzbank Aktiengesellschaft – the sale of a Europe-wide commercial real estate portfolio, as regards the law matters in Romania
- EBRD and ING Bank N.V. Amsterdam – Bucharest Branch – EUR96m financing for CTPark Bucharest logistics park located on the A1 Bucharest-Pitesti motorway and owned by CTP Group, one of the most active investors in industrial and logistics spaces in Romania
- Raiffeisen Bank International AG and Raiffeisen Bank S.A. (Romania) on a financing of up to EUR49.4m granted to a Romanian subsidiary of CTP Group for the development of a logistic park near Bucharest
- BRD – Groupe Société Générale S.A. and Komerční banka, a.s. – EUR47.6m financing granted to CTPark Gamma S.R.L., part of CTP Group, for the development of two industrial buildings in the proximity of Bucharest
- BRD-Groupe Société Générale S.A. and Komerční banka, a.s. on the approximately EUR65m financing extended to Portland Romania Industrial One SRL, which operates one of the largest industrial and logistic parks in Romania, for the refinancing of its existing debt in the context of the acquisition of Bucharest West Industrial Park by the Czech group CTP
- Canada Pension Plan Investment Board and investment funds managed by Cairn Capital – a EUR180m secured bond financing agreement of Globalworth Real Estate Investments Ltd.
*As of 2 March 2020 RTPR Allen & Overy will refer to itself as RTPR.