Immofinanz sells office project in northern Bucharest

Business Forum

26 August, 2024 at 2:37 PM

Austrian real estate group Immofinanz, part of CPI Property Group, has sold its office complex Iride Park in northern Bucharest for around €45 million.

The buyer is a group owned by Romanian entrepreneur Alin Niculae, according to Profit.ro.

The transaction mentioned in the Official Gazette covers offices spaces with a leasable area of 60,000 sqm, land spanning 12.7 hectares with further development potential and more than 1,000 parking spaces.

Niculae is the founder of Alfa Group, which includes the fuel distribution company Oscar and real estate companies Akcent Development and Exigent Development, as well as insurance and private equity firms.

The deal comes less than one week after AFI Europe Romania announced the purchase of another office building in central Bucharest from Immofinanz for around €27 million.

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