Romanian developer Studium Green has purchased a property portfolio from Immobiliare Italo Romena, a subsidiary of former Italian lender Veneto Banca, for an undisclosed sum.
The portfolio comprises office and residential buildings, agricultural land, hotels and guesthouses, located throughout Romania, but mainly in Bucharest, Cluj-Napoca and Oradea.
“The active re-introduction of these assets to the economic circuit will now provide local investors with valuable opportunities to develop a range of productive projects in many varied sectors," said Dorin Bob, CEO and owner of Studium Green. The developer has its own portfolio of residential projects in Cluj-Napoca.
Studium Green was assisted by the Reff & Associates | Deloitte Legal real estate team on the transaction.
“This is one of the most well-known portfolios on the market. The variety of the real estate assets entailed significant legal complexities which we needed to untangle, in record time, during the very intense due diligence process,” said Irina Dimitriu, Partner at Reff & Associates | Deloitte Legal and leader of the real estate practice.
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