The Austrian-held Immofinanz bought Adama in two steps for EUR100 million. It is now in talks over its sale with several financial investors and will make a decision in the coming months, the quoted sources added. The officials of the company would not comment on the information.
This deal should include about 47 hectares of land, some 100 completed yet unsold apartments and Adama’s business and management platform.
Immofinanz is selling Adama after having decided to focus on its core business, the office and retail space segments. This would its second major deal, following the sale of the logistics portfolio in several countries to Blackstone at the end of 2015.
Immofinanz has a portfolio valued at EUR907.7 million in Romania, almost EUR650 million of which completed investments, EUR30 million allocated to various projects under development and about EUR230 million projects under review.
(English version by Loredana Fratila-Cristescu)