Romanian lender First Bank sells headquarters to local entrepreneur
Local entrepreneur Dorin Mateiu, who in the fall of 2017 sold sausage producers Elit and Vericom to Smithfield Foods, the world's largest pork producer and entered the real estate market, took over the headquarters of First Bank in downtown Bucharest, Ziarul Financiar reported.
Piraeus Bank owned the Victoriei Square office building. U.S. fund JC Flowers acquired Piraeus Bank in 2017 to re-brand it into First Bank.
According to estimates, the transaction value exceeded EUR 20 million, with a yield ranging from 7 to 8% per year.
editor@romania-insider.com
(Photo source: Pexels.com)
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