Spanish investment fund Danube Property, which acquired four office buildings in Bucharest prior to the 2008 crisis, plans to sell its last asset on the Romanian market, after selling another one during the state of emergency, profit.ro reports.
The fund entered the Romanian real estate market during 2006-2007 when it purchased four office buildings in Bucharest following a total investment of over €60 million.
The fund is now preparing to sell its last property, on Buzesti Street, for about €10 million, according to Profit.ro estimates. The office building has a leasable area of 7,000 sqm. It was developed in 2006 and sold before 2008 for €20 million. It now has an occupancy rate of 61%. JLL has been tasked with selling the property.
