Lithuanian real estate developer Hanner Holding has acquired a 11,000 sqm land plot on the site of the former Grivita beer factory in Bucharest and wants to develop a mixed real estate project.

The former owner was Forte Partners, owned by three local investors. The Lithuanian group paid EUR 5 million for the plot, which hosts three historic buildings.

The site is located in western Bucharest, near the Grozavesti area and the Basarab overpass. Hanner Holding plans to refurbish the buildings of the former factory and convert them into office spaces. The company will also develop new buildings on the rest of the plot.

Hanner has chosen this area, because it is currently developing and transforming into a new office district of Bucharest, said Mindaugas Valuckas, Hanner CEO.

The Lithuanian group has also developed The Park residential project in Bucharest.

editor@romania-insider.com