This transaction will allow Florin Maris to keep consolidating his position of key player on the real estate market and to expand the property portfolio that includes several renowned mixed-use projects, both in Cluj Napoca and in capital city Bucharest. Florin Maris is one of the prominent real estate developers in Romania, being famous for his ability to turn former industrial platforms into mixed-use projects.
“I am excited that we completed this transaction because it is a significant step towards scaling up our business and also in line with our perspective of investing in large mixed-use projects that will contribute to the growth and development of the cities and towns in which we operate (..),” said Florin Maris.
Based on the advertisements placed in the area, displaying prices of EUR500 to EUR800 per sqm, the transaction could amount to EUR30-EUR40 million, according to estimations by Ziarul Financiar (ZF) daily.
Law firm PNSA, through lawyers Florian Nitu and Ela Marin, has assisted Hexagon with this transaction.
Tehnofrig covers almost seven hectares of land on which Florin Maris is going to develop an integrated mixed-use project consisting of more than 1200 apartments as well as retail and office spaces. The project also targets supermarkets, a kindergarten and a nursery, medical and wellness facilities, and an aparthotel concept..
Hexagon is also developing in Bucharest the Estoria City project on the Policolor industrial platform, with a surface area of 13.9 hectares. The complex will include 1200 apartments in four buildings, 50,000 sqm of office space and 20,000 sqm of retail space that will host, among others retailers Leroy Merlin, Kaufland and Lidl.