The developer was assisted in the deal by law firm Reff & Asociatii and Deloitte Romania.
The acquired portfolio comprises over 100 real estate assets of various types, including residential and office buildings, farmland, hotels and pensions, located across Romania, mainly in Bucharest, Cluj-Napoca and Oradea.
The deal was sealed in August 2021, and the property transfer of the first stage was finalized in February 2022, with the rest of properties set to be transferred by yearend.
The 100 properties taken over from Immobiliare Italo Romena will be added to the current portfolio of Studium Green, which includes real estate projects such as Wings, West Side Park and Seasons, located in Cluj-Napoca.
“I am highly satisfied with the acquisition of this portfolio of assets that were blocked for many years because of the legal and financial situation of Veneto group. The fast reintroduction of these properties in the economic circuit will now provide local investors with major opportunities to develop revenue generating projects in numerous and diverse fields,” stated Dorin Bob, Studium Green CEO.
(English version by Catalina Apostoiu)