GLL had bought the project from Portland Trust in 2015, for EUR104 million, at a yield of 7.5%.
According to the same sources, the Floreasca Park project is up for sale, at an investment yield of 7%, the lowest of the past years.
Considering a yield of 7%, the price of the project reaches nearly EUR110 million, according to ZF calculations, plus the rental rate of nearly EUR30 million cashed during a four-year period, since the acquisition of the project.
The Floreasca Park office space project, which was completed at the end of 2013 in one of Bucharest’s prominent office space areas, Barbu Vacarescu-Calea Floreasca, covers 37,500 square meters. Its main tenants include, among others, Oracle, Allianz, Kellogg’s, BASF sau Kalon.
Investments in Floreasca Park stand at nearly EUR70 million.