Harvard University behind takeover of Liberty Technology Park in Cluj-Napoca

An investment fund controlled by Harvard University is the investor that purchased, alongside US company White Star Real Estate, the Liberty Technology Park business centre in Cluj-Napoca from Moldovan investor Ion Sturza, Ziarul Financiar reported.

Ion Sturza, former deputy general manager of Rompetrol group and former prime minister of the Republic of Moldova, closed, on September 27, the sale of Liberty Technology Park to US real estate company White Star Real Estate, which operated in partnership with “the investment fund of a US university”.

The estimated value of the deal was EUR 40 million, Profit.ro reported. The project includes 18,000 sqm of former industrial spaces, converted to offices, and land for further development.

Harvard University is thus at its second major investment in Romania. Harvard University has been investing in Romania since 2005, when it started buying forests in the country. In 2015, the US university, through Greengold Company, sold 33,600 hectares of forest in Romania to Swedish group IKEA.

(Photo source: Colliers International)