Immofinanz to re-start retail developments in Romania

Austrian real estate investment fund Immofinanz wants to bring to Romania a network of small-sized shopping centers, a plan which was delayed during the crisis. “Our activity in Romania focuses on retail and logistics, but we plan to use some of the properties in the portfolio for the development of residential projects under the Adama brand, which will involve only apartments intended for sale (…) Under the Log Center brand, we want to focus on the development of logistics projects in Romania and Russia. In the near future, we’ll also bring the Stop.Shop. brand to Romania,” according to company representatives, cited by local Wall-street.ro. Immofinanz is currently evaluating several locations in Romania for the Stop.Shop brand, but no decision was yet made. In 2007, the fund was planning to develop 20 centers under Stop.Shop, but has put plans on hold during the crisis. Real estate fund Immofinanz makes EUR 47 mln rental income in Romania. Irina Popescu, irina.popescu@romania-insider.com (photo source: stop-shop.com)