Hungarian investment fund Adventum, which manages a real estate portfolio worth more than EUR 1 billion, has given up the acquisition of the @Expo office complex in Bucharest from Belgian developer Atenor. The deal was valued at around EUR 120 million.
Atenor and Adventum had entered into a deal for @Expo as early as the end of 2022, but talks have dragged on for several reasons. According to sources in the real estate market, the two parties had to reach an agreement by the end of 2023, otherwise the transaction would stall. In the meantime, however, Adventum withdrew from the purchase of the office complex and Atenor decided to wait for better times to sell it.
“We have postponed the sale of the property until the leasing situation and global market circumstances improve. We do not expect this to happen in the first 3 quarters of 2024 and therefore do not anticipate closing a sale transaction in 2024,” said Sven Lemmes, member of Atenor’s executive committee.
Source: profit.ro
