Dedeman owners give up buying two of the AFI Park buildings

Adrian and Dragos Paval from Bacau, owners of DIY retailer Dedeman, have announced they will only buy three office buildings out of the five of AFI Park.

Thus, the transaction, initially estimated at EUR 164 million, exponentially decreases and loses the status of the largest sale in the Romanian market history.

“AFI Europe announces that it has received information from the potential buyer of AFI Park 4&5 buildings, announcing its intention not to continue the agreement provided in the Letter of Intent. The AFI Park 1-3 building process continues its course,” Israeli real estate developer said.

During a phone conversation between the two parties, the possibility of continuing the discussions on the remaining buildings on the market was mentioned, according to a company announcement published on the Tel Aviv Stock Exchange, capital.ro informs. Moreover, Dedeman has informed AFI Europe that it plans to examine the first three buildings in the project more thoroughly.

The local investors signed a pre-contract with AFI Europe Romania for the sale of 1,2 and 3 buildings for EUR 86.5 million, but they also had the option to buy 4&5 buildings for EUR 77.5 million, but they stopped at three buildings of AFI Park.

AFI Park 5 office buildings offer 70,000 sqm GLA of office leasable area occupied by multinational corporations. AFI Park line-up of tenants includes: Microchip Technology, Electronic Arts, Endava Romania, Cameron US, SII Romania, ORTEC Central & Eastern Europe, FotoNation, Telus International, Veeam Software, SecureWorks and more. All AFI Park buildings are green buildings having LEED Gold Certification.