Real estate developer Adama, owned by investment fund Immofinanz, will move its headquarters to Victoria Business Park, in the Baneasa area of Bucharest. At the end of this month the company will leave its current headquarters in Evo Center in Pipera (in picture). Evo Center, owned by Dinu Patriciu Global Services, has some 3,000 sqm, and another tenant, a health clinic, apart from Adama.

Evo Center was developed by Adama and sold to investment fund Fabian, which in turn was bought by Dinu Patriciu Global Services.

Victoria Park, Adama's hew headquarters, is in the portfolio of the company's main shareholder Immofinanz. Mid last year, Austrian investment fund Immofinanz, with real estate assets of EUR 900 million in Romania, bought 69.2 percent of the real estate developer Adama for EUR 42.4 million. The companies Lehman Brothers, Morgan Stanley, Tiger Global were formerly the developer’s shareholders.

Adama is a real estate developer that has built about 1,500 apartments in Romania, while the portfolio includes 40 other areas for future investments. Adama has developed apartments Bucharest, as well as in other cities in the country, such as Ploiesti, Brasov, Bacau and Iasi.

editor@romania-insider.com