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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

US Portico Investments bids for Metro Cash&Carry’s real estate portfolio in RO

Portico Investments, indirectly owned by the Washington State Investment Board, has entered the second round of negotiations to acquire the nine stores in Romania that the German group Metro wants to sell and lease back.

The transaction, estimated at above EUR 100 million, also stirred the interest of local businessman Ion Tiriac, who reportedly pulled out from the race.

Metro Cash & Carry's network in Romania includes 32 stores in 24 cities, two of which are rented (not owned). Only nine owned stores are for sale. The average area of a store, including the storage area, is over 10,000 sqm, which raises the total area of the portfolio put up for sale to about 90,000 sqm.

Given Metro will lease back the stores for at least ten years, the value of the portfolio can be estimated at over EUR 100 mln, Profit.ro estimates.

(Photo: Viorel Dudau/ Dreamstime)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

US Portico Investments bids for Metro Cash&Carry’s real estate portfolio in RO

Portico Investments, indirectly owned by the Washington State Investment Board, has entered the second round of negotiations to acquire the nine stores in Romania that the German group Metro wants to sell and lease back.

The transaction, estimated at above EUR 100 million, also stirred the interest of local businessman Ion Tiriac, who reportedly pulled out from the race.

Metro Cash & Carry's network in Romania includes 32 stores in 24 cities, two of which are rented (not owned). Only nine owned stores are for sale. The average area of a store, including the storage area, is over 10,000 sqm, which raises the total area of the portfolio put up for sale to about 90,000 sqm.

Given Metro will lease back the stores for at least ten years, the value of the portfolio can be estimated at over EUR 100 mln, Profit.ro estimates.

(Photo: Viorel Dudau/ Dreamstime)

andrei@romania-insider.com

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