Dedeman owners eye another big real estate acquisition

Romanian entrepreneurs Dragos and Adrian Paval, who own the biggest do-it-yourself retailer in Romania – Dedeman, are interested in making a big real estate investment.

They are currently discussing the potential purchase of “The Bridge”, a large office project in Bucharest developed by local group Forte Partners, local Ziarul Financiar reported. The project has an estimated value of some EUR 150 million.

The Bridge comprises two office buildings, one with a leasable area of 30,000 sqm, which was delivered at the end of 2017, and one with an area of 21,000 sqm, which will be finalized at the end of this year. BCR and IMB leased the first building while UPC and Medicover have already signed leases in the second one. The project is located in Bucharest’s Orhideea area, near the Basarab overpass.

Dragos and Adrian Paval also negotiated the takeover of AFI Europe’s AFI Park office project last year, but the deal didn’t go through.

Dedeman is the biggest company owned by Romanian entrepreneurs, with a turnover of over EUR 1.36 billion and a net profit of EUR 191 million in 2017.

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