Immofinanz sold two plots of land in northern Bucharest to Speedwell

Austria-based Immofinanz, one of the leading real estate investors in Romania,  has sold two plots of land within the Adama portfolio to Speedwell Real Estate Development, a real estate developer focused on Eastern Europe, mainly Romania. The two properties, located in northern Bucharest, have a total area of over 50,000 square meters. They are located on Jandarmeriei street and are part of the Jandarmeriei residence ensemble and of the Jandarmeriei office complex.

The first property stretches on a 25,268-sqm area, while the second one has around 25,721sqm.

The two sides agreed to not reveal further details of the transactions.

We are happy that we concluded a new stage in our strategy to sell properties that don’t identify with our office and retail portfolio. We’ll continue the sale proceedings for the extended portfolio of premium plots of land owned by Adama, which are especially suited for residential developments,” said Fulga Dinu, Country Manager Operations for IMMOFINANZ Romania.

The landplots on Jandarmeriei street represent the missing piece to complete the Speedwell residential portfolio on the premium segment. The size of the project will enable the rise of the quality of living downtown. The landplots will be served by facilities such as retail centers and office buildings in the proximity. One of these office areas is the new Speedwell office project located on DN1,” said in his turn, Didier Balcaen, General Manager Speedwell.

Other plots of land in Bucharest are in the process of being sold or will be sold in the upcoming period.

Immofinanz, one of the leading real estate investors in Romania, started selling the first landplots belonging to of its residential company Adama in November last year.

Adamaaustria-basedBucharestImmofinanzinvestorsjandarmerieiplots of landPremiumreal-estateresidenceRomaniaspeedwell
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