D4 Investments to invest EUR 100 million in real estate projects
21 January 2008
USA-based real estate investment company, D4 Investments, founded by former US Ambassador to Romania, David Funderburk, is to invest this year some EUR 100 million in projects on the local real estate market. D4 Investments recently opened an office in Bucharest, as Romania is the company’s main investment target in Eastern Europe, the company announced.
Funderburk, who served as ambassador from 1981-1985, founded the company last year with businessman Don Rosacker, currently CEO of the company. The office in Romania is to be managed by Daniel Costea, previously lawyer with Bostina si Asociatii law firm and for landline phone operator Romtelecom.
''Given that the Bucharest market is very competitive, we are considering the rest of the country. We are mainly interested in Timisoara and Cluj, where we foresee possible residential projects,'' Costea told Business Standard.
The company is involved in ongoing negotiations to acquire two pieces of land in Bucharest, where it plans to develop residential, commercial and industrial projects.