Paval Holding reportedly in talks for first building of U Center office complex in south Bucharest

Paval Holding - the investment vehicle of Dragoș and Adrian Paval, better known for the DIY retailer Dedeman, is reportedly close to reaching an agreement for the takeover of the first building of the U Center office complex, in the Bucharest neighbourhood of Tineretului, from real estate developer Forte Partners, controlled by Lebanese brothers Johny and Jihad Jabra.

The price is estimated at almost EUR 90 mln. If completed, this would be the second deal between the two after The Bridge complex, also in Bucharest, traded for EUR 200 mln.

If Paval Holding buys the first building in U Center, they become the potential customers for the second phase as well, as it happened in the case of The Bridge complex, Profit.ro speculates.

Various sources estimate the value of the entire complex at over EUR 170 mln.

In separate developments, Paval Holding is in exclusive negotiations to buy the entire Romanian portfolio (offices) of the Austrian investor CA Immo, valued at over EUR 400 mln. The finalization of this transaction is aimed at the end of this year, according to Profit.ro sources, and can propel the Paval brothers to second place at the top of the big office owners.

(Photo source: the company)