Corporate Social Responsability
During this year Adval supported Hospice Casa Sperantei ( www.hospice.ro ). HOSPICE Casa Sperantei was the first medical foundation in the country to specialize in caring for terminally ill patients and their families. It is a non-governmental, non-profit organization, set up as an Anglo-Romanian partnership. In addition to financial support, Adval also provides resources to facilitate the collection and delivery of around 120 meals each month. Chef’s Gallery, a tenant in Baneasa Business Center also supports us in this scheme providing some of the meals
Earlier in the year Adval donated 20 desks and chairs to Asociatia Pentru Tine Botosani ( www.pentrutine-botosani.ro ), an organization that takes care of around 40 kids from poor families within Botosani county through an afterschool program.
Adval is grateful this year to the children and the volunteers from Hercules Center ( www.asociatiahercules.ro ) who for a small donation helped us with creating the wonderful Adval’s Christmas cards sent to clients and collaborators.
Sale Update New Town - In the second half of 2016, Adval have concluded 77 sale-purchase agreements in the New Town residential complex. The units sold represents 32 apartments, 40 parking places and 5 storage.
Lease Renewal - Adval is announcing the extension of a lease contract of 818 sqm for another two years with an important tenant in Baneasa Business Center.
Refinancing - Adval has successfully managed to restructure and refinance Media Center Offices, a property that comprises two adjacent buildings, an office building and a printing center as well as a parking lot of 3,500 sqm with development upside. Libra Bank, the financing partner provided a financing facility of almost EUR 3 mn.
With this last refinancing, Adval finalized the restructuring process and is now actively looking in the market for new investors and new opportunities.
Refinancing - Adval has successfully managed to restructure and refinance Banu Antonache Office Building, a fully let, well located, modern office building from Bucharest. The financing partner provided a financing facility of EUR 6.7 mn.
New Renewal - Adval has concluded a lease prolongation and expansion totaling 560sqm with a key tenant in Banu Antonache.
New Lease - Adval has concluded a new lease agreement for 470sqm of office space in Banu Antonache Office Building to a new tenant, an IT consultancy and technology services company.
New Renewal - Adval has concluded a lease extension with a tenant in Romana Offices for 420sqm of office space, for a further five years.