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Articles

Baruba Trade claims €7m in damages from Immofinanz

Baruba Trade & Invest Limited filed an application Thursday at the Arbitration Court of the Chamber of Commerce and Industry demanding €7m in compensation from Immofinanz.

Hay, AFI Europe: Financing stays difficult even for good projects

Financing stays difficult even for good projects and experienced developers, said David Hay, the head of AFI Europe Romania, which hopes though to get financing for the office buildings AFI Park 2 and 3 and refinance the loan for AFI Cotroceni by its due date, May 25th.

EUR 18 million investments in Cosmopolis residential project

Opus Land Development, the developer of Cosmopolis, one of the biggest residential projects in Romania, will complete this year at least 400 new units in the residential complex, the investments scheduled for 2014 reaching EUR 18 million.

Horatiu Florescu, The Advisers/Knight Frank: 2014 will be a year of pre-leases

The office pre-leases will register a revival in 2014, says Horatiu Florescu, the president of the company The Advisers/Knight Frank, in the context that in 2013 the volume of office pre-leases has decreased substantially compared to 2012, representing only 9% from the total transacted area.

S-Immo: We will wait one year or two until a new investment in Romania

Austrian company S Immo, the owner of Sun Plaza mall in Berceni district of Bucharest, will wait one more year or two until making a new investment in Romania, considering the macro-economic situatopn has declared for MEDIAFAX Friedrich Wachernig, a member of S Immo board.

Charles de Gaulle Plaza, EUR 70 million `transfer` between two GLL funds

Charles de Gaulle Plaza, the office building dominating the entrance in Herastrau Park from Aviatorilor Blvd. in Bucharest, was sold in the end of last year by Accession Fund, a fund managed by the German company GLL Real Estate Partners, to another fund in GLL portfolio in a transaction of nearly EUR 70 million, according to ZF information.

Mirela Raicu, the new manager of the Corporate Office division within Esop

Mirela Raicu is the new manager of the Corporate Office division within the real estate consultant Esop Consulting l CORFAC International.

Mergers and acquisitions worth EUR 1.2 bln in Romania last year

The total value of mergers and acquisitions in Romania over the past year rose to approx. EUR 1.18 bln, a similar value to the one achieved in 2011 and a small drop compared to 2012, according to ”Emerging Europe: M&A Report 2013/14″, a study conducted by CMS and Deal Watch.

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