The legal administrator, the company BDO Business Restructuring, plans to sell the eight modules of the industrial park which cover a total 44,400 square meters, plus 2,600 sqm of office space, as well as an unfinished three-storey building and a platform for parking and access covering 27,400 sqm. Bidders have until June 25 to file offers.
The starting price for the assets is not specified in BDO’s announcement because it will be made public only to those who buy the tenderbook, according to the representatives of the legal administrator.
The assets were included in the portfolio of Cefin Real Estate Asset Management, the real estate development division of Italy’s Cefin, while the land the group owns in Arad is held by the company Cefin Logistic Park Arad, which also went insolvent this year, at the request of the Arad City Hall.
Italian group Cefin announced before 2008 that it would develop several real estate projects in Romania, but it managed to complete only Cefin Logistic Park and A1 Business Park – the largest logistics and industrial projects close to the Bucharest-Pitesti highway, which were sold to Europolis (subsequently bought by CA Immo) and to Australian group Valad.