News Article CPI Property Group Immofinanz Iride office Radovan Vitek Romania
by Property Forum | Office

Immofinanz Romania, part of CPI Property Group (CPIPG), is reportedly negotiating a partial sale of its Iride Business Park office complex located in northern Bucharest.

The negotiations cover office buildings with a leasable area close to 60,000 sqm as well as land that can accommodate the development of another 300,000 sqm of office space and more than 1,000 parking spaces. The potential sale value for these assets stands at €90 million, according to, which reported on the ongoing negotiations.

The complex has a total leasable area of 83,000 sqm and has undergone several extensions starting 2014.

Immofinanz is also looking to sell two more office buildings in Bucharest, with a combined asking price of around €30 million.

The sales are part of CPIPG’s strategy to sell around €2 billion in assets in a bid to pay back bank loans. The group is owned by Czech billionaire Radovan Vitek.