Spanish real estate company Hercesa has sold a 13,000 sqm piece of land in Bucharest located near the Basarab Overpass, where it intended to develop a housing complex, to an investment vehicle controlled by Romanian businessmen.

The two sides have not disclosed the transaction value, but according to Mediafax estimates, it amounts to about EUR 5.5 million.

The investment vehicle is owned by the real estate development company Primavera Development controlled by the Tanasoiu family, and by the Forte Partners company, controlled by Dinu Fulga and Daniela Marchievici. The deal was brokered by Crosspoint Investment Banking & Real Estate.

The plot is located in western Bucharest, close to the Carrefour Orhideea shopping center. It will host a real-estate project including retail and office spaces.

editor@romania-insider.com