Meta Estate Trust, a holding company operating in the real estate sector and acting as a gateway between the real estate market and the capital market, announces a 2.65 million euro exit from a Novarion residential project in Sibiu.
The investment in this project had an Internal Rate of Return (IRR) of 20%, with total revenues over the entire investment period of approximately 1.6 million euros.
Meta Estate Trust’s investment in Novarion’s The Lake Home Sibiu residential project debuted in December 2021, being carried out in the form of a real estate development partnership.
Meta Estate Trust’s exit from Novarion Sibiu is part of the company’s strategy to focus mainly on real estate co-development investments in Bucharest.
“We are pleased to close, since the first quarter of this year, a significant exit for Meta Estate Trust. The investment in Novarion represented one of Meta Estate Trust’s largest exposures, and in the more than three years of partnership we managed to mark three objectives. First of all, we marked a significant return for our shareholders and investors – 20% annualized and we supported the realization of a major residential project in Sibiu. Meta Estate Trust’s exposure during this investment period to the residential development sector represents a valuable experience for the entire Meta team.”, says Alexandru Bonea, CEO of Meta Estate Trust.
Meta Estate Trust invested a total of 2.84 million euros in Novarion’s The Lake Home Sibiu residential project, phased starting in December 2021. The company thus marks a significant exit from a residential project, part of the Co-Development investment line.
The exit from Novarion thus joins the list of other successful investments such as The Level Apartments phase II, Ion Dragalina 21 and Eforie Sud.
The company’s investment strategy, within this business line, involves the provision of preferential equity capital to be used strictly for the development of the real estate project.
With an IRR of 20%, the Novarion exit is part of the investment margin pursued in the Co-Development business line, namely 20-30% annualized return.
The Lake Home by Novarion is a large-scale residential project in the western area of Sibiu, built on an area of 53,000 square meters, of which 20,000 square meters are green spaces, parks and gardens.
The complex will include, in its final stage, 494 apartments arranged in 9 blocks, 34 premium villas, 3 restaurants, 1 aparthotel, gym with spa and swimming pool, kindergarten and afterschool. Currently, the project is 21% completed, with the last phase to be completed in 2030.