Czech investment fund Portland Trust has borrowed EUR 77 million from the local lender BCR to develop the Oregon Park office project, located in northern Bucharest, according to data from the Official Gazette.

The total investment in the project amounts to EUR 102.2 million. Portland Trust has already received a loan of EUR 34 million from its majority owner.

The investment fund is developing two office buildings within the Oregon Park project, with a total surface of 37,000 sqm.

Last year, the fund bought a 4-ha plot on the Pipera Road, in the north of Bucharest, from the Italian company Nusco Group, to build the Oregon business park. One of the project’s tenants is Oracle, which has leased an area of 20,000 sqm.

editor@romania-insider.com

(photo source: portlandtrust.cz)