- GTC has acquired an A-class office building in Belgrade
- Belgrade Business Center offers 17,900 sq. m
- It is 96.8% occupied by UniCredit, AirSerbia, and NCR
The GTC Group, one of the leading commercial real estate companies operating in Central, Eastern, and Southern Europe, has acquired a modern A-class office building in Belgrade, Serbia. Belgrade Business Center will increase GTC’s Serbian portfolio to 98,400 sq. m GLA and further strengthen its leading position on this market.
Belgrade Business Center offers 17,900 sq. m of GLA and 307 parking places. The state-of-the-art office building has been designed and build to the highest standards.
“GTC’s strategy includes acquisition of assets with value add potential to expedite growth in parallel to our highly profitable development activity. We seek for opportunities in booming, capital cities like Belgrade, Budapest and Bucharest. Belgrade Business Center will strengthen our recurring NOI by more than EUR 3 million per year with additional potential for NAV growth” said Thomas Kurzmann, GTC CEO.
Belgrade Business Center is located in a well-established residential and commercial area called “Belville” which offers easy access by car or public transport from all around the city. The current occupancy rate stands at 96.8% with key tenants being Air Serbia, UniCredit, and NCR.
Earlier this summer, in line with it strategy, GTC has acquired an office building in prime CBD location of Bucharest, Romania. Cascade Office Building offers 4,200 sq. m of modern leasable area and has a prominent tenant list featuring Procredit Bank, Enel, and Taiwan TC. The building has a very distinct architectural design, with its curved colorful façade and provides flexible floor space.