BUSINESSCOMPANIESNEWS

Paval brothers to enter real estate market, following a EUR 160 M deal for AFI Park 1-5

By Anca Bernovici
0

Get real time updates directly on you device, subscribe now.

Adrian and Dragos Paval from Bacau, owners of DIY retailer Dedeman, are interested in purchasing AFI 1, 2, 3, 4 & 5 office buildings, purchase for which they have already signed a letter of intent, sources say for profit.ro.

The value of the five buildings is estimated at EUR 154 million, or even EUR 160 million, according to mirsanu.ro.

Thus, Pavals make their entrance on Romanian real estate market.

David Hay, CEO AFI Europe Romania, did not want to comment on the issue.

The selling of AFI Park project would represent the largest deal in this segment from 2007, when Globe Trade Center (GTC) announced the sale of America House office building for EUR120.3 million. Recently, America House building owned by AEW Europe, owned in turn by Natixis and La Banque Postale, was put up for sale, according to capital.ro.

“We decided to invest in real estate, not because it’s fashionable. (…) We think it as a support for whatever period will come someday, when the demand in our industry could enter a downward trend,” Dragos Paval said recently in an interview.

On that occasion, he said that, together with Dragos Paval, is preparing to launch two investment funds, one for real estate investment and venture capital fund for Romanian startups investments.

AFI Properties, the parent company of AFI Europe, completed last year office buildings AFI Park 4&5 in Bucharest (32K GLA). In the office park, 70,000 GLA sqm of the office buildings AFI Park 1-5 were close to 100 percent occupancy rate.

DONATE: Support our work
In an ever changing and challenging world, the media is constantly struggling to resist. Romania Journal makes no exception. We’ve been informing you, our readers, for almost 10 years, as extensively as we can, but, as we reject any state funding and private advertising is scarce, we need your help to keep on going.
So, if you enjoy our work, you can contribute to endorse the Romania Journal team. Any amount is welcome, no strings attached. Choose to join with one of the following options:
Donate with PayPal
Donate by Bank Wire
Black Zonure SRL
UniCredit Bank. Swift: BACXROBU
RON: RO84 BACX 0000 0022 3589 1000
EURO: RO57 BACX 0000 0022 3589 1001
USD: RO30 BACX 0000 0022 3589 1002

Anca Bernovici

Anca Bernovici

I started my way in life with the intention to pursue a teaching career. But, after graduating from the Faculty of Letters – the University of Bucharest in 2004, my first job as a reporter at one of the leading newspapers in Romania changed my perspective. I have specialized in communication and communication campaigns, following the Master's courses at the Faculty of Journalism and Communication Studies (FJSC), attending a BBC Communications scholarship.
I’ve represented several important publications in Romania as business journalist, being accredited in the finance and banking field. In 2015, I had the opportunity to interview the International Monetary Fund (IMF) Mission Chief for Romania, Andrea Schaechter. As business journalist, I also had the opportunity to interview ministers for Economics and Commercial
Affairs offices within different embassies in Romania or officials of large companies investing on the domestic market.
After almost 15 years of journalism, I still want to explore new ways, to inform and stay updated. That’s why The Romania Journal project fits me so well.
Today I describe myself as a passionate about the history of world culture, having a PhD in Hebrew Culture and Civilization, after a scholarship at the University of Haifa International School, as a language addict, an environmental activist, pet lover and traveler.

You might also like More from author
Leave A Reply

Your email address will not be published.