Hergan has developed projects worth over EUR300 million in Romania, among which the Charles de Gaulle Plaza building, where UniCredit has some of its offices. He stepped down last year as chief executive of the company, with the company currently being run by Haydn Wright and Matthew Proskine, son of another American shareholder of the company.
The highest loan obtained by Avrig 35 from UniCredit amounted to EUR46 million and was granted in 2008 to Avrig Asset Management for the Avrig 7 office building close to Bucharest’s Piata Obor (Obor Square). However, the construction site of this project looked abandoned yesterday, with the only thing visible through the fence being the concrete slab covering the underground parking lot.