Major Real Estate Deal Impacts Bucharest's Iride Park
A significant real estate transaction has occurred in Bucharest, impacting the well-known Iride Park project. Alfa Group has successfully acquired a majority stake in the park from CPI Romania. Completed on June 19th, this deal includes a substantial portion of the existing office and associated logistics, along with two adjacent buildings specifically designated for future development.
"The transaction concluded with Alfa Group represents a stage in the process of optimizing CPI's portfolio in Romania, which includes some of the most valuable office and retail projects on the local market, acquired from Immofinanz and S-IMMO," says Fulga Dinu, Country Manager CPI Romania.
"The Iride Park assets join a solid portfolio of premium real estate projects that Alfa Group has developed in the office and residential segments in Bucharest. The transaction we are signing today is one of the most representative real estate acquisitions announced in Romania in recent years, and is also one of the most complex. It confirms the confidence that Alfa Group has in the potential of this industry in the medium and long term, and helps us consolidate our leadership position on the premium real estate market in Romania," adds Mihai Măcelaru, CEO of Alfa Group.
What This Means for Businesses Seeking Space
For companies actively searching for office space in Bucharest, this transaction is noteworthy. A change in majority ownership can often signal new investment strategies, management approaches, and potentially new leasing opportunities within the acquired properties. Iride Park is a strategic location offering a mix of commercial spaces, making this development relevant for businesses with diverse needs.
CPI Romania Retains Key Assets
While Alfa Group has taken over the majority, CPI Romania will continue to hold ownership of three specific buildings within the park. These are IRIDE eighteen, myhive IRIDE | nineteen, and myhive IRIDE | twenty. Businesses interested in space within these particular buildings can expect continuity under CPI Romania's established management.
Exploring Opportunities at Iride Park
With Alfa Group now overseeing the majority of Iride Park, including development potential, and CPI Romania maintaining ownership of key office buildings, the park remains a dynamic hub for businesses. Prospective tenants should explore the available options across the park to find spaces that align with their operational and strategic requirements.
Alfa Group was founded by businessman Alin Niculae, who controls the largest Romanian-owned oil distribution company, Oscar Downstream, with a turnover of 1.4 billion euros.
The entrepreneurial group Alfa Group brings together several reference companies for their industries, the best known being OSCAR Downstream (Petrol & Gas), Akcent Development (Real Estate) and Onix Asigurări (Guarantee Insurance). Its real estate portfolio in Bucharest includes the office buildings Oscar One, Maria Rosetti Tower, Eminescu Offices, Mendeleev Office 5
The transaction was facilitated by legal advisors, with Biriş Goran representing CPI Romania and Peli Partners advising Alfa Group, underlining the scale and complexity of the deal.
Source: property-forum.eu
