South African investment fund Lion’s Head Investments, a company resulted from the merger of Old Mutual (the oldest insurance company in South Africa) and AG Capital, is negotiating the acquisition of more office buildings on the Romanian market, after the Oregon Park acquisition last year, Economica.net reported.
The fund targets projects over EUR 30 million. No deal is expected by the end of the year, though.
Among the buildings envisaged by Lion's Head Investment are Hermes Business Campus, a 78,000-sqm project developed by Belgian group Atenor, several office projects of NEPI Rockcastle (Floreasca Business Park - 36,300 sqm, City Business Center Timisoara - 47,800 sqm, The Lakeview Bucharest - 25,600 sqm and Victoriei Offices - 7,800 sqm), and Portland Trust’s Expo Business Park, which is still under development.
Last year, Lion’s Head Investments bought Oregon Park from Portland Trust for an estimated EUR 160 million. The project includes three buildings with a lettable area of 70,000 sqm, located in the Barbu Vacarescu - Pipera office hub.
(Photo source: Portland Trust)
The investment fund Lion's Head Investments, formed last year by the oldest life insurance company in South Africa - Old...