Austrian commercial real-estate company Immofinanz, part of CPI Property Group, is conducting exclusive negotiations for the partial sale of the Iride office complex in the northern part of Bucharest, a transaction with an estimated value of around EUR 90 million, according to sources familiar with the process consulted by Profit.ro. 

The deal is reportedly part of the plan of the majority shareholder of the group, the Czech billionaire Radovan Vitek, to liquidate properties worth EUR 2 billion to pay off the loans with which he bought Immofinanz and S Immo.

The Iride Business Park complex comprises office buildings with an area of ​​over 83,000 square meters. It is the first business park in Bucharest and one of the largest in the country.

The assets that Immofinanz seeks to sell include a plot of land with an area of ​​12.7 hectares with ​​almost 60,000 square meters of office building already developed and the potential to host a further 300,000 square meters of offices and the necessary parking lots.

Last year, Immofinanz sold to the real estate developer One United Properties a plot of about 9,300 square meters, initially intended for the future expansion of Iride Park. On this land, One United Properties will build a 20,000 sqm office building.

iulian@romania-insider.com

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