The consideration of €5.85 million has been funded by €1.85 million of the Company’s existing cash resources, with the remainder funded by bank debt.
The EOS Business Park consists of 3,386 leasable sqm of office space, as well as 90 parking spaces. It generates a net operating income (“NOI”) of circa €600,000 per annum and is fully let to Danone Romania until 2026. The building is situated next to the Danone factory on the North-Eastern part of Bucharest.
The acquisition, which is the Company’s third outside Ukraine, further diversifies its portfolio across the region. As a result of this transaction, Secure’s annualised net operating income will increase to circa $7.5 million, representing a 250% rise from the beginning of the year. (Source: Secure Property)