The two plots of land, which cover a total 50,000 square meters, are located on Jandarmeriei Street and are part of residential compound Jandarmeriei Residence and of Jandarmeriei Office compound.
The first plot of land covers nearly 25,268 sqm and the second one covers nearly 25.721 sqm.
The two companies agreed to not disclose further details regarding the transactions.
Other plots of land located in capital Bucharest are to be sold in the upcoming period. In 2017, Immofinanz sold three other plots of land managed by Adama, two of which are in Bucharest and one in Voluntari.
Immofinanz’s portfolio mainly focuses on office and retail segments, after the logistics properties segment had been sold to Blackstone in 2015.
Immofinanz’s Romanian portfolio is worth over EUR800 million and its properties include, among others, Iride Business Park, Metroffice, S-Park, Victoria Park, Baneasa Airport Tower (office) and four Vivo! shopping centers in Cluj-Napoca, Pitesti, Constanta and Baia Mare, respectively.
Besides Vivo!, Immofinanz also plans to develop in Romania Stop.Shop, a retail brand within the group. The first project under this brand will be located in Botosani where Immofinanz had bought retail park Family Center in 2017, which it plans to rebrand as Stop.Shop throughout 2018. Immofinanz is also developing, under the same brand, a shopping center in Brasov, on the former platform IUS Brasov.