AFI Europe acquires landmark office building in downtown Bucharest

AFI Europe strengthens its presence in Bucharest with the acquisition of a landmark office building on Calea Victoriei

AFI Europe continues to expand its Romanian portfolio with the acquisition of the Bucharest Financial Plaza, a prestigious office building located in the heart of Bucharest, on Calea Victoriei, near the emblematic CEC Palace. The transaction, finalized on August 20, marks another strategic step in consolidating the company’s position as one of the most important real estate investors in Romania.

The property was acquired from Immofinanz, which had previously purchased it in 2021 from BCR, for an estimated EUR 27 million, according to Economica.net. With this new addition, AFI Europe’s office portfolio in Romania now exceeds 300,000 sqm of leasable space.

Originally known as the “Bancorex Block” (Blocul Bancorex), the building holds a special place in Bucharest’s architectural history as the first modern office development built in the capital during the 1990s. With a total built area of approximately 38,700 sqm, it has long stood as an urban landmark within the city’s historical and financial center.

“Our goal is to transform this iconic property into a modern, Class A mixed-use project that meets the highest standards of quality. It will be a sustainable building, aligned with ESG principles and designed to offer both functionality and architectural elegance,” said Doron Klein, Deputy CEO AFI Europe & CEO AFI Europe Romania and the Czech Republic.

A building permit issued in 2023 allows for the complete conversion of the property into a Class A development, paving the way for a new chapter in the life of one of Bucharest’s most recognized office landmarks.

AFI Europe is part of AFI Properties, a leading real estate development, management, and investment group active throughout Central and Eastern Europe. In Romania, the company ranks as the second-largest office space owner, managing a portfolio of over 300,000 sqm of offices and 175,000 sqm of retail spaces, including flagship destinations such as AFI Cotroceni, AFI Ploiești, and AFI Tech Park.