GTC sold its last shopping center in Romania

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Real estate developer Globe Trade Centre (GTC), whose majority shareholder is US giant Lone Star, completed the sale of its last shopping center owned in Romania, Galleria Arad, for EUR 2.1 million, according to company’s report.

GTC was hit hard in June 2015 after Cora left Galleria Arad, leaving an empty space hard to replace.

At the same time, GTC, one of the oldest developers on the local market, has contracted in November from Alpha Bank a loan of EUR 19 million to finance two modern A-class office buildings in Bucharest – Premium Point and Premium Plaza.

Completed at the end of 2008, the Premium Plaza high-rise building comprises 15 office levels and 3 underground parking floors. The investment encompasses 8,600 sq. m that have been leased to international tenants such as Webhelp, Mavenhut or Enel

Whereas, the Premium Point office building, delivered in 2009 offers a total leasable area of 6,400 sq. m on 9 floors and has 3 levels of underground parking. It is leased to top global companies, such as Franklin Templeton, Thomson Reuters, Autodesk and HBO.

Both buildings are located in the center of one of the most important administrative, business, finance and cultural districts in Bucharest and offer excellent access and visibility.

The two A-class office buildings in Bucharest were bought for EUR 32 million.

 

 

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