All the five office buildings developed by AFI Europe next to the AFI Palace Cotroceni mall in Bucharest will be sold simultaneously by Africa Israel Investments, a company that is controlled by the Israeli investor Lev Leviev.

The transaction price needs to be established. The value of the five office buildings is estimated at EUR 154 million.

On June 10, AFI Europe Romania signed a letter of intent for the sale of three out of five office buildings. It estimated that it would get around EUR 92.7 million for the three assets. The group now wants to sell all the five office buildings at once.

The project AFI Park has a total rentable area of 70,000 sqm in the five office buildings, and has an occupancy rate of almost 100%. Most of the project’s tenants are IT and outsourcing companies.

The commercial properties of AFI Europe Romania were estimated at over EUR 800 million at the end of September this year. The developer plans to start another office project near the JW Marriott hotel in Bucharest.

editor@romania-insider.com