The prominent Greek businessman Ioannis Papalekas, bought a 5,000 sqm parcel of land in Romania’s Floreasca-Barbu Vacarescu region, according to the server Wall Street. This is Papalekas’ third acquisition in the last 12 months.
City Mall was acquired for €17.3m last fall, followed by Tower Center International earlier this year. Papalekas’ company Star Imob acquired City Mall, which had filed for bankruptcy.
Papalekas purchased the Tower Center International property with his longtime business partner Dragos Bilteanu. The office building, which had also begun insolvency proceedings, was developed by Avrig 35 and IndustrialExport.
