Three Romanian investors start EUR 100 mln office project

The consortium of real estate investors Forte Partners has had talks with six large possible tenants for a new office project in the Orhideea area in Bucharest, on the plot of the former Spicul factory bread. The project called The Bridge will include two ten-floor office buildings with a total area of 57,000 sqm. The total investment amounts to EUR 100 million. The first building of this project will cost EUR 60 million. The consortium is also in the process of selecting the general contractor, said Geo Margescu, founder of Forte Partners, reports local Capital.ro. He doesn’t exclude the possibility of leasing a space of over 20,000 sqm to one customer, which would occupy an entire building. The consortium owns a portfolio of 15 revenue generating properties, with a market value of about EUR 26 million. The consortium is made up of three investors, namely Romanians Geo Margescu, Ionut Dumitrescu, and Lebanese Johny Jabra. editor@romania-insider.com