Property group Yellow Tree has purchased an office building near Romană Square in central Bucharest from Mecanoexportimport. The Mecano Export-Import building has a leasable area of 3,000 sqm and was finalized in 2004. The deal, with an undisclosed value, was first reported by profit.ro.
The group started operating in Romania back in 2015 through the acquisition of its first office buildings. Yellow Tree’s real estate portfolio has grown to a market value of more than €60 million and generates more than €6.5 million in cash revenues annually, according to a company presentation.
Yellow Tree specializes in purchasing underperforming property assets that are leased at attractive rates following a rehabilitation process.
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