PPF Real Estate has accomplished their third investment in the Romanian market acquiring an 8,000 sqm construction site land in the rapidly developing Orhideea area, with the aim of achieving their next major project, ARC Office Building, by 2024. The seller is the development and investment group RC Europe.
DLA Piper’s Bucharest Office team, including Florin Țineghe, Counsel, and Alin Buftea, Partner and Head of Real Estate, assisted the client with the due diligence process, negotiations and structuring of the transaction documentation for the land acquisition, including planning and permitting aspects.
„We are excited to have further assisted PPF Real Estate in strengthening their market position in Romania and we would like to thank PPF’s team for their trust with the successful completion of this new acquisition. The professionalism and vision of PPF’s team are an inspiration for excellence and we are glad that we can be part of the real-time growth of the Romanian real estate market”, commented Florin Țineghe, Counsel, DLA Piper.
PPF group previous investments in the Romanian real estate market consist in the acquisition of two major office buildings in the city centre of Bucharest, Crystal Tower and Metropolis Center.
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