The deal was closed early 2015 and the respective homes will be leased for at least three-five years. The yield in euros is estimated at 8% a year.
A similar deal, whereby an investor bought a block of flats, exceeded EUR2 million and was closed in 2013. The respective homes are fully leased and the annual yield of this investment reaches 7.8%.
Cosmopolis is one of the largest residential projects in Romania, with more than 1,700 finalized homes. The project will be further developed in 2015 through investments worth EUR18 million. Nearly 400 new apartments and villas will be finalized and the general development of the project infrastructure will also continue.
Investments in Cosmopolis, located in northern Bucharest, have so far reached some EUR250 million.
Opus Land Development is part of a group of companies owned by the Buyukhanli family from Turkey.