Spanish investment fund Buenavista Equity Partners, formerly GED Capital, has entered into a sale transaction with real estate developer Cordia, owned by Hungarian millionaires Péter and Gábor Futó. The deal involves land located in the Pipera, near northern Bucharest.
The transaction is part of the Spanish fund's new strategy, which no longer includes Romania in its investment radar.
Fortuny Advisory, managed by Buenavista Equity Partners, has signed a sale-purchase promise with a company from the Hungarian Cordia group for the acquisition of a 6.5-hectare plot, according to profit.ro.
The future owner intends to build only approximately 900 residential units on the site, significantly fewer than the 1,500 apartments originally planned by Buenavista.
Buenavista Equity Partners owns over 50 hectares of land for real estate developments on the outskirts of Bucharest, primarily for residential and logistics projects, alongside other strategic assets.
