Bucharest’s tallest completed office building, the Tower Center on Victoria Square, has been bought by the portfolio of Ioannis Papalekas and Dragos Bîlteanu, two of the strongest real estate investors in the local market. Traditionally tight lipped about their dealings, the pair haven’t made any statements about the transaction, according to Ziarul Financiar.
The building, developed by Industrialexport and Avrig 35, has 22 floors and a height of 106 meters. Despite being completed in 2008, it’s never managed to pull in tenants, with rents that go as high as €19.5 per sqm.
