Greek real estate investor Bluehouse to sell EUR 20 mln office building in Bucharest

Greek real estate investment fund Bluehouse Capital resumed its attempts to sell the Olympia Tower office building in the eastern part of central Bucharest area, Economica.net reported.

Olympia Tower has a total lettable area of ​9,555 square meters and the asking price is EUR 20 million. It was delivered to the market in 2010 and has 12 storeys.

Bluehouse put up for sale Olympia Tower for the first time in 2016, but failed to find a buyer. It also wanted to sell it, along with other properties, to a company it controls: Meridian Properties, registered in the Netherlands. Meridian initiated an IPO to raise the necessary funds, but had to put an end to the operation as investors reacted negatively to the idea of the issuer using the money to buy properties from its own parent company.

Bluehouse Capital owns several real estate assets, in Romania, wholly or in partnership, including the Astoria Business Center, City Gate, Olympia Tower, and Victoria Center.

(Photo source: Babu/Wikipedia)