The real estate company completed a first round of financing in May, raising RON19 million from 30 investors. The company used the funds to acquire 40 properties consisting of newly-built apartments in Bucharest, Constanta and Mamaia.
“With the RON19 million attracted previously and the RON20 million we plan to raise this summer, we seek to become a major player on the local real estate and capital markets in Romania,” said co-founder Eugen Voicu.
The company has a holding/type structure and plans to focus on the large city residential sector, namely Bucharest, Constanta, Cluj-Napoca, Iasi, and Timisoara. Its business model is based on a short capital rotation cycle, of maximum 18 months, and targets a 15% average return on investment in the first ten years.