Immofinanz took over Adama in two phases and paid a total of EUR 100 million. They are currently negotiating the sale of the company with several financial investors and a decision will be taken in the following months, according to cited sources.

Contacted, the company officials said: "Adama is specialized on the residential segment, so is not in line with our core business on medium term. This is the reason for we analyze alternatives. "

This transaction will include the sale of approx. 47 ha of lands, nearly 100 apartments, completed but unsold, as well as the business and management platform of Adama.

The decision of Immofinanz to sell Adama comes in the context where the company decided to focus attention on its core business, the offices and retail segments. This will be the second major transaction for Immofinanz, which sold in the end of 2015 its entire logistics portfolio in several countries to Blackstone. (source: zf.ro)