Greek Eurobank Properties REIC buys Romanian Seferco Development for EUR 20.3 million
05 August 2008
Eurobank Properties REIC, part of Greece's Eurobank EFG Group acquired Romanian Seferco Development for EUR 20.3 million, the company said. The Romanian company owns a newly erected office building in Bucharest.
''The acquisition is in line with Eurobank Properties REIC's investment strategy for future growth, through selective acquisitions of office, retail, logistics and industrial spaces in prime locations, taking into consideration the prevailing market conditions,'' Eurobank Properties REIC said in a statement.
The building has a GLA of 22,704sqm (grade A office) plus 120 parking plots. Total consideration (net of debt) stands at EUR 20.3 million, while the Greek company plans a further EUR 7 million investments.
Following the completion of the refurbishment, the property's value is estimated by SOE at EUR 52.7 million. The building will house Eurobank EFG group companies.
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