Real estate developer Forte Partners plans to put the U Center 2 office building, the future headquarters of US giant Adobe, up for sale in the second half of next year. Adrian and Dragoș Pavăl, the owners of Dedeman, are no longer among the favourites to buy the building, although they bought the first phase of the U Center complex last year, according to real estate market sources. Changing market conditions and the difficulty of managing the portfolio bought from CA Immo have made Pavăl Holding’s interest in new office building acquisitions wane.
“We had a contract with Pavăl Holding only for phase 1 of U Center and we have no promises with them for phase 2. We have now finished phase 2 and tenants have started to occupy their spaces, but it will be mid next year before all tenants are in. We will look at the opportunity to sell in the second half of next year, when all the tenants will move in and the building will be fully occupied,” said Geo Mărgescu, CEO of Forte Partners.
Source: Profit.ro
