12 October 2008
 
 

Daily News
 
UK-based New Europe Property Investments buys two Romanian companies for 46 million euro
13:00 Tue 12 Feb 2008 - Desislava Leshtarska
Assuming vacant space and space currently under renovation is fully rented, the annual net operating income generated by the properties is expected to be around 3.6 million euro, the UK-based firm said.
Assuming vacant space and space currently under renovation is fully rented, the annual net operating income generated by the properties is expected to be around 3.6 million euro, the UK-based firm said.

UK-based New Europe Property Investments has announced it has purchased two Romanian real estate companies from Central Eastern European Real Estate Shareholdings for about 46.3 million euro ($67.4 million).

The two companies, General Investment and General Building Management, jointly own a portfolio of 18 properties situated in various Romanian cities. The buildings comprise 47,379 square metres of lettable space, New Europe Property Investments said in a statement.

Assuming vacant space and space currently under renovation is fully rented, the annual net operating income generated by the properties is expected to be around 3.6 million euro, the UK-based firm said.

Central Eastern European Real Estate Shareholdings is part of the Romanian real estate investor Avrig 35 Group.
Source: SEE News


 

 
 
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