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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

RO financial group floats apartment rental financial vehicle

Cluj-Napoca-based BRK Financial Group, one of the biggest brokerage companies on the local market, has launched a new company, Residential Star Invest, that will invest in residential properties for rent, Profit.ro reported.

The group aims to list the vehicle on the AeRO market of the Bucharest Stock Exchange.

It promises to distribute between 70% and 95% of its annual net profit as dividends and estimates a yield of about 5-7%.

The financial vehicle has already acquired a EUR 2.15 mln apartment building located in the Greenfield Baneasa residential project developed by Impact, a company controlled by local investor Gheorghe Iaciu.

The building has 14 apartments with four rooms each, which are fully rented to a construction company owned by Iaciu, which uses the apartments for its employees. The investment thus comes with a gross annual yield of some 11%.

Residential Star Invest plans to increase its real estate portfolio to EUR 9 mln in three years.

"The model is that of a REIT company (Real Estate Investment Trust - e.n.). This model should work in our country as well, especially since house prices in Romania are on an upward trend. We want to operate in Bucharest, Cluj-Napoca, Timisoara, and Iasi. We won't stop at apartments, we also want to buy commercial spaces. We want to list on the AeRO segment by the end of this month, after which we want to move to the main market," said Ghrigore Chis, operations manager of BRK Financial Group.

(Photo: Pixabay)

[email protected]

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

RO financial group floats apartment rental financial vehicle

Cluj-Napoca-based BRK Financial Group, one of the biggest brokerage companies on the local market, has launched a new company, Residential Star Invest, that will invest in residential properties for rent, Profit.ro reported.

The group aims to list the vehicle on the AeRO market of the Bucharest Stock Exchange.

It promises to distribute between 70% and 95% of its annual net profit as dividends and estimates a yield of about 5-7%.

The financial vehicle has already acquired a EUR 2.15 mln apartment building located in the Greenfield Baneasa residential project developed by Impact, a company controlled by local investor Gheorghe Iaciu.

The building has 14 apartments with four rooms each, which are fully rented to a construction company owned by Iaciu, which uses the apartments for its employees. The investment thus comes with a gross annual yield of some 11%.

Residential Star Invest plans to increase its real estate portfolio to EUR 9 mln in three years.

"The model is that of a REIT company (Real Estate Investment Trust - e.n.). This model should work in our country as well, especially since house prices in Romania are on an upward trend. We want to operate in Bucharest, Cluj-Napoca, Timisoara, and Iasi. We won't stop at apartments, we also want to buy commercial spaces. We want to list on the AeRO segment by the end of this month, after which we want to move to the main market," said Ghrigore Chis, operations manager of BRK Financial Group.

(Photo: Pixabay)

[email protected]

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