Austrian investor Immofinanz, part of the CPI Property Group, has entered into exclusive negotiations for the partial sale of the Iride office complex, a transaction with an estimated value of around EUR 90 million.
It is the most expensive asset in Romania put up for sale by the company so far, as part of a plan by the group’s majority shareholder, Czech billionaire Radovan Vitek, to liquidate EUR 2 bn worth of properties in order to pay off the loans with which he bought Immofinanz and S Immo.
The investor wants to sell nearly 60,000 sqm of buildings in the Iride Business Park and related land covering 12.7 hectares, which offers the potential to develop another 300,000 sqm of office space plus 1,028 landscaped parking spaces.
Market sources point to businessman Alin Niculae, owner of real estate developer Akcent Development’s distributor Oscar Downstreamn, as the buyer involved in the negotiations.
Source: Profit.ro
