Real estate investment fund Secure Property Development & Investment finalized the acquisition of the Praktiker store in Craiova from Bluehouse Capital, an investment fund headquartered in Cyprus.

The transaction value was EUR 6.1 million, 39% less than Bluehouse paid for the same asset four years ago, reports local Capital.ro.

The DIY store has a gross leasable surface of about 9,400 sqm and a net operational income of some EUR 1 million per year.

The store is part of a property package that Secure Property announced it would buy for EUR 23.2 million, in May. The package also included 24% of an office building in Bucharest and residential properties in Bucharest and Sofia (Bulgaria).

editor@romania-insider.com