CA Immo increases its exposure on Romania by 50% in 2018
Austrian real estate investor CA Immo, the third largest office owner in Romania by the value of its assets, increased the value of its local portfolio by 48.6% to about EUR 400 million last year, by acquiring Campus 6.1 office building developed by Skanska in western Bucharest and completing the works at the two office towers (Orhideea Towers) in the same area.
CA Immo paid EUR 52 million for the 22,700 sqm office building Campus 6.1 and completed investments worth EUR 77 million in the 36,800 sqm Orhideea Towers. The two projects pushed up the value of the Romanian portfolio of CA Immo at EUR 394.5 million, Profit.ro reported.
CA Immo's other five office projects in Bucharest, namely River Place, Opera Center 1 și 2, Europehouse and Bucharest Business Park, generated rental income of nearly EUR 18.8 million in 2018.
editor@romania-insider.com
(Photo source: Skanska)
