Alfa Group, through Iride Development, acquired from CPI Romania the biggest part of the Iride Park project in Bucharest, the attached logistics, and two buildings located nearby with a large potential for further development, according to a deal sealed by the two parts on October 1.

The buildings Iride eighteen, myhive | Iride nineteen, myhive | Iride twenty, and myhive Metroffice are not part of this transaction, and they will continue to be owned by CPI Romania.

Fulga Dinu, Country Manager of CPI Romania, commented: “The transaction concluded with Alfa Group is part of the optimization process of the CPI portfolio in Romania, which includes some of the most valuable office and retail projects on the local market, which were purchased from Immofinanz and S-Immo. Our strategic priority is to invest in the development and refurbishment of the integrated assets in order to increase the value and attractivity of our premium office buildings and commercial centers.”

“Iride Park assets are joining a solid portfolio of premium real-estate projects developed by Alfa Group on the office and residential segments in Bucharest. The deal we are signing today is one of the most representative real-estate acquisitions announced in Romania in the past years and also one of the most complex,” stated Mihai Măcelaru, CEO of Alfa Group. 

PeliPartners assisted Alfa Group in the deal.

CPI Property Group is one of the largest real estate owners in Europe. With a property portfolio worth over EUR 21 billion, CPIPG owns premium office properties in the main capital cities of Central and Eastern Europe, namely Prague, Berlin, Vienna, Bucharest, and Budapest. The group also owns retail properties in Central and Eastern Europe, as well as hotels, residential units, and land.

Alfa Group, founded by Alin Niculae, brings together several leading companies in various industries, the best known being OSCAR Downstream (oil & gas), Akcent Development (real estate), and Onix Asigurări (guarantee insurance). Its real estate portfolio in Bucharest includes the office buildings Oscar One, Maria Rosetti Tower, Eminescu Offices, Mendeleev Office 5, as well as real estate projects Cloud9, 19th Residence, 20th Residence, and 21 Residence - phases 1 & 2.

irina.marica@romania-insider.com

(Photo source: the company)