Portland Trust to complete last building of Bucharest Oregon Park next year

Real estate developer Portland Trust, which has been active on the Bucharest market for 20 years, will start the construction work on the Oregon Park office project’s third building next month. The investment in the new building is almost EUR 50 million, reports Economica.net. Oregon Park is located near the Aurel Vlaicu metro station in Northern Bucharest. The total investment in the project amounts to around EUR 140 million. The third office building, which is also the project’s last building, will have a 25,000 sqm net leasable area. It will have six floors and will mirror the second building. In the last 20 years, Portland Trust has built projects such as Bucharest Business Park, Floreasca Park, Opera Center I and II, Floreasca 169A on the local market. The company has been approached by German investment funds interested in buying the Oregon Park project, but company representatives said that they were not ready for an exit. The last project sold, Floreasca Park, has entered the portfolio of the German investment fund GLL Real Estate Partners. editor@romania-insider.com