Romanian insolvency administrator puts shopping malls, offices, hotels, residential properties up for sale online

Romanian insolvency administrator Casa de Insolventa Transilvania (CITR) has launched the sales.citr.ro website, which gathers some 5,000 products. According to the company, the total value of the assets in CITR’s portfolio amounts to over EUR 500 million, assets grouped on the portal in three categories. The site is in Romanian only. Some of the products sold on the website in the immovable property category are: Mall Armonia Braila shopping complex - on sale for EUR 10 million, Arena Rezidential Iasi residential complex - some EUR 6.4 million, Office building - Mantuleasa, Bucharest - on sale for over 2.1 million, Rina Tirol Hotel in Poiana Brasov - EUR 2.1 million, or Elysee Hotel in Timis county - almost EUR 2.1 million. The website also includes a penthouse in Bucharest, with a total area of 608 sqm - on sale for EUR 1.3 million, Aura Hotel in Predeal - over EUR 1.2 million, and other assets, such as lands, apartments, office building, farms. Prices don’t include VAT. The Swan Office & Technology Park Class A office complex in Bucharest is also on sale on the portal, for over EUR 42.7 million, without VAT. This is one of the most expensive assets on sale. The sales portal has been active since early-March. Users can find each product based on some filters that allow searches by subcategory, location, or price. By registering and creating an account, those interested can create a personal list of products and categories of goods of interest. Irina Popescu, irina.popescu@romania-insider.com