Lion’s Head completes EUR 170 mln takeover of Oregon Park office complex in Bucharest

The investment fund Lion's Head Investments, formed last year by the oldest life insurance company in South Africa - Old Mutual and the largest real estate agency in Bulgaria - AG Capital, on July 4 bought the last office buildings of the Oregon Park complex, part of a transaction worth over EUR 170 million, Profit.ro reported.

It is the the second largest deal in the history of the local real estate market. The investors are involved in auctions for new acquisitions.

On June 14, 2018, the company announced the acquisition of the Oregon Park office complex, consisting of two functional buildings and a third under construction from its developer, Portland Trust, for an estimated price of over EUR 170 million.

The cost of the project was estimated at EUR 140 million.

Lion's Head Investments owns three business parks, consisting of five buildings, two in Sofia and one in Bucharest, with a total area of 235,000 square meters and a total value of EUR 310 million. The countries targeted for new acquisitions are Romania, Bulgaria, Serbia, Macedonia, Greece, Croatia and Slovenia.

(Photo courtesy of the company)