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Adam America buys Phoenix Tower from Aberdeen Asset Management and Commerzbank

Asset fund manager Aberdeen Asset Management and German lender Commerzbank have sold the office building Phoenix Tower in Bucharest to New York-based Adam America, a developer and operator of residential real estate, for an undisclosed sum.

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The office building Millennium Business Center, situated near the Armenian Church in Bucharest centre, should undergo in the following period a large rehabilitation process, four years after the fire that made the building unusable and started lots of conflicts, the damages being evaluated at dozens million euros.

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