The real estate company Portland Trust, controlled by British Robert Neale, will invest around €70m in Floreasca Park office project, in northern of the capital. From Commercial Romanian Bank (BCR), Portland Trust obtained a grant of about €40-50m.
The project will have two buildings with a total of 37,500 sqm, will be located at Barbu Vacarescu and Pipera intersection. Floreasca Park will be delivered in autumn 2013 and the general contractor is Bog’Art company.
Oracle already rent 20,000 sqm and another company will rent 2,000 sqm, but was not disclosed the latter’s identity.
On the local market, Portland Trust is known for developing Opera Center I (first glass facades building in Romania) and II office buildings from Eroilor area, Bucharest Business Park from Piata Presei area and Floreasca Business Park, near subway station Aviatorilor. All three were sold to investment funds: the first two by CA Immo and the third by NEPI.
