Adval Asset Management Srl ("Adval") is an independent Romanian Real Estate Management Company set up and owned by a team of professionals with strong expertise in real estate management, business management, commercial and investment banking, real estate development, financing, tax, legal and marketing.
With over Euro40mn (38,000sqm) of assets under management , Adval has become a market leader in the Real Estate Management of office, industrial, retail and residential properties across Romania.
Adval creates additional value to our clients through:
With our depth of experience on the Romanian market and strong links with the banking industry we are well aware of all the opportunities available in the Romanian market, not just the assets being sold through agents but also off market transactions as well as real estate secured loans and REO’s that are now being offloaded by the banks.
With funds available for co-investing and the team and infrastructure having the full set of skills to manage the investment process from acquisition through to exit; we are fully aligned with clients interested in investing in Romanian real estate.
We create additional value through lease management by optimizing space and reducing vacancy. Our experience, network and exposure allow us to know what is happening in the market. We are therefore able to react quickly to the active requirements and conclude leases that create value for our clients, as evidenced by our more than 90% occupancy ratio.
We make significant cost savings through economies of scale and investment in technology. Streamlining property management will reduce non-recoverable costs as well as service charge for tenants making the assets more commercially attractive.
While the local banks were not really lending we were sourcing mezzanine and bridge finance from international markets which allowed us to successfully renegotiating loan extensions and debt terms, reaching agreements that extended maturities. Now that the lending markets are opening up we are looking to restructure our clients portfolio’s to reduce overall borrowing costs and align financing with our clients longer terms investment strategy.
We work with our tenants to provide the accommodation they need, we work hard to retain tenants in our buildings with competitive renewal options well ahead of existing lease expires as well as ongoing technical support to make their use of the space comfortable.
Adval is an owner managed business platform that has assembled a team with strong local asset management capability, with its core management specialized in real estate asset management, business management, commercial and investment banking, real estate development, financing, tax, legal and marketing.
Adval provides services such as Asset Management, Property Management and Accounting Services, Financing and Refinancing, Corporate Restructuring and Portfolio Management.
David has more than 18 years' experience in the real estate business since qualifying as a Chartered Accountant with PricewaterhouseCoopers. David worked at Morgan Stanley London where he was Head of European Real Estate Controllers overseeing MSREF and MSRESS fund investments in Germany, France, Spain and the UK. In 2007 David moved to Bucharest to be the CFO of a number of real estate funds for which he raised E85mn of investment commitments.
In 2008 he founded Richmond Management which was Investment Advisor to the Curzon Capital Residential Investment Fund acquiring E5mn of residential projects in Bucharest. David then joined Quintet (later to become DPGS) as a key advisor to Dinu Patriciu on all aspects of real estate.
Baneasa Business Center is a prominent office building and comprises nine floors of flexible open plan office accommodation above ground. The building was built in two phases during 2002 and 2003 and was one of the first buildings in Bucharest to offer accommodation suitable for international tenants. There are 132 dedicated underground and above ground car parking spaces.
The property is located in the established office district of north Bucharest. The building has an excellent visibility adjacent to the underpass in Baneasa. The location offers excellent car access with the city centre and the international airports (Baneasa and Otopeni). Public transport facilities are convenient with numerous bus and tram lines in the vicinity that serve the whole city.
The property was built in 2006 and provides five floors of high specification open plan office accommodation above ground and two levels of parking underground. Situated prominently on the corner of a busy intersection the building is well known as one of the most attractive office developments in Bucharest.
The property is located in central Bucharest just off Calea Floreasca, one of the most affluent districts in the city. It is a popular commercial and residential location with a wide range of retail amenities nearby. The location enables easy access to the city centre and the international airports (Baneasa and Otopeni). Public transport facilities are good with numerous bus and tram lines.
Romana Office is a headquarters style property that comprises six floors above ground and two floors of underground parking providing 34 spaces. The building has been designed to a high specification to provide cutting-edge office accommodation in the heart of the city. The building offers a modernly designed reception area with ground floor retail space let to a renowned food provider, both with direct access to Blvd. Dacia.
The property is located in the prime central business district adjacent to Piata Romana and has frontage to Blvd. Dacia, a busy road in the heart of Bucharest. Public transport facilities are excellent with a metro station and a major hub for buses and trolleybuses within two minutes walk of the building.
The property is a logistics development deployed on 3.4 hectares of rectangular shape, with utilities and services connected to the site. The project includes the disposal of three warehouses, with total built area of 9883sqm of storage. All the three Units are fully occupied
The Property is close to Bucharest, near the Pantelimon forest and adjacent to the National Customs Authority in Bucharest. It is situated on the east side of the ring road 6 km away from the A3 motorway (opened to circulation until Ploiesti) and 10 km from the entrance to the A2.
The A2 motorway is a very important commercial route that links Bucharest to the seaport of Constanta whilst the A3 will link Bucharest to the north of the country
The property comprises a 20.000 sqm site , on which a residential project was developed in two phases. Each phase consists of five blocks; two with five floors above ground and three with twelve floors above ground, 802 parking spaces are provided over two underground floors.
The residential units offer modern turnkey, fully finished apartments with generous two meter wide terraces. The development also offers commercial spaces, a kindergarten. The generous apartments, whose interior designs reflect the latest trends in the field are fully fitted.
Currently, Adval team is managing the sale of the remaining units, namely 71 parking places and storage. The last apartment of the residential compound was sold in November 2018.
The property is located at the crossroads of two main streets in Bucharest; Str. Dristorului nr 91-95 / Str. Baba Novac 8A. The property is 4km away from Piata Unirii and benefits from good public transport facilities with bus, tram, trolleybus stops and a metro station within a short walk.
The property was built in 2005 and is located at a corner point on Strada Buzesti, one of the main arterial routes leading south from Piata Victoriei, in the heart of the Bucharest central business district. The property was sold to a listed group of companies in July 2017 and was 100% occupied at the transaction date by reputable tenants such as Procredit, Enel and Taiwan.
The property was originally constructed as a residential villa having a total built area of 1,100sqm including an underground level, ground floor and 3 upper floors. The building retains many of it's original features but was fully refurbished in order to accommodate modern commercial use. The property is located in district one of Bucharest, in the close proximity to the most affluent areas of Bucharest, such as Victoriei Square and Romana Square. The Berthelot villa was sold out of the Adval portfolio in June 2016.
The property was constructed in 2008 in a premium location on the main boulevard Iancu Niculae in Pipera, Volutari. The area has increasingly developed over the last years with commercial arears and residential compounds being built in the surroundings. The Evo center villa was sold out of the Adval portfolio in August 2015.
Cubic Center was a landmark office building built in 2010 comprising twelve floors above ground with three levels of underground parking. The property is located in a prominent position in Pipera, a district to the north of Bucharest. Cubic Center was sold out of the Adval Portfolio in December 2017 being occupied by tenants such as Agricover, Promidea, Nexte Bank, Patria Credit, Luatel. Adval team has continued to perform property management services to the new owner for one year until the complete hand-over.
The property was comprised of 11.086sqm of land site with old construction, located in the north of Poiana Brasov Resort, close to center of the resort. The land site was suitable for a mixed development of residential and / or hotel accommodation given its unique position in one of the most visited mountain resort in Romania. The Adval team has facilitated the sale of the asset at auction with a transfer completed in March 2018.
The property was built in early 1995 but completely refurbished and redeveloped in 2010 and it comprises two adjacent buildings, an office building and a printing centre. The office building is a former industrial space converted to provide the headquarters of Adevarul publishing group. The property is situated in the north of Bucharest on Fabrica de Glucoza nr. 21 Street with access to Dimitrie Pompei metro station as well, in an area that is currently going through major infrastructure developments. The property was sold out of the Adval portfolio in April 2019.
T: +40 (0) 31 104 0035
F: +40 (0) 21 361 1166