InteRo Property Development has announced a €16 million bond issuance to support the development of a Bucharest-based residential complex. The financing was secured through CVI, an independent asset manager overseeing nearly €900 million across eight funds.
"We are pleased to have successfully secured this financing for Phase 1 of Pajurei 3 Residence, ensuring that the remaining works are funded with €8 million cash on hand," said Michael Topolinski III, Founder and CEO of InteRo Property Development.
”We are confident in the Romanian real estate market and its long-term potential within the CEE region. Romania continues to present attractive investment opportunities, driven by a dynamic market that prioritizes quality developments,” added CVI’s Jakub Kozłowski.
Pajurei 3 Residence, located near the Jiului metro station in the Bucharest Noi area, is InteRo's first luxury project. The development will feature 160 apartments with high-end amenities such as an outdoor pool, fitness centre, and children's playground.
It is designed to meet nZEB requirements and is in the process of BREEAM Excellent certification, incorporating sustainable features like electric charging stations and solar energy systems.
The project is expected to be completed in July 2026, with a total investment of €65 million.
