IRIDE Park is now held by real estate developer CPI Romania, part of CPI Property Group.
The two parties signed a preliminary agreement in October 2024.
“The takeover of a significant part of IRIDE Park adds value to the real estate portfolio in Bucharest of Alfa Group. It is a major transaction on the local market, which at the same time opens the opportunity for our group to develop new extensive projects in the medium and long run,” Mihai Macelaru, Alfa Group CEO, said.
Under the terms of the deal, IRIDE/eighteen, myhive IRIDE/nineteen and myhive IRIDE/twenty buildings will remain with CPI Romania.
Law firm Biris Goran advised CPI Romania and Peli Partners advised Alfa Group in the deal.
(English version by Loredana Fratila-Cristescu)