Wolf Theiss has advised Revetas Capital Fund II and an affiliate of Cerberus Capital Management, L.P. on their acquisition of Project Nemo, a leading hotel complex with approximately 86,000 sqm of gross leasable area in a prime location in Bucharest, Romania.
The complex includes the Radisson Blu and Park Inn hotels, featuring a total of 697 guest rooms operated by the Rezidor Hotel Group, as well as approximately 7,500 sqm of prime retail space anchored by high-end tenants such as Burberry and Hugo Boss.
The acquisition aligns with both Revetas and Cerberus’ strategies of identifying quality real estate properties and applying investment and operational expertise to make them even more valuable. The investment in Project Nemo is further supported by the portfolio’s existing leadership position within the growing Romanian market — the Radisson Blu and Park Inn are widely recognized as the best hotels in Bucharest within their category.
Revetas is a specialized real estate investment manager with current focus on Central and Eastern Europe with offices in London and Vienna, and a presence in most CEE countries.
Wolf Theiss’ team was coordinated on the M&A side by Ileana Glodeanu (Partner, Corporate M&A, in picture) from the Wolf Theiss Bucharest office and on the financing side, by Leopold Hoeher (Counsel, Banking & Finance) from Wolf Theiss Vienna. Significant contributions were also provided by the entire team of lawyers from the Bucharest office, including Ciprian Glodeanu (Partner, Real Estate & Construction), Mircea Ciocîrlea (Senior Associate, Corporate M&A), Claudia Chiper (Counsel, Banking & Finance), Cristina Ion (Associate, Real Estate), Andreea Stan (Associate, Corporate M&A), George Ghitu (Associate, Corporate M&A), Iuliana Ungureanu (Associate, Banking & Finance) and Alexandru Asaftei (Associate, Banking & Finance).
Involved fees earner: Ileana Glodeanu – Wolf Theiss; Mircea Ciocîrlea – Wolf Theiss; Andreea Stan – Wolf Theiss; George Ghitu – Wolf Theiss; Leopold Hoeher – Wolf Theiss; Claudia Chiper – Wolf Theiss; Iuliana Ungureanu – Wolf Theiss; Alexandru Asaftei – Wolf Theiss; Ciprian Glodeanu – Wolf Theiss; Cristina Ion – Wolf Theiss;
Law Firms: Wolf Theiss;