Sources familiar with the negotiations claim that three bidders have already expressed interest in the portfolio of the Austrian real estate company CA Immo, namely Dedeman, S Immo and Indotek. But neither the sell nor the buy-side confirmed negotiations.

The representatives of Dedeman - a holding of companies active in the real estate area among others, held by local entrepreneurs Dragos and Adrian Paval, told Profit.ro that they do not intend to buy this portfolio.

Representatives of Indotek, a group of investment management companies owned by American and Hungarian shareholders, stated that they are looking at several properties on the Romanian market and know these assets but have no discussions about them with CA Immo at the moment.

The same sources evaluate the value of the entire CA Immo portfolio at over EUR 400 mln, for an average rent of EUR 16 per square meter and an investment yield of 7%. At this value, the transaction would become the largest ever made on the Romanian real estate market, after the current record reached by the sale of NEPI Rockcastle's office portfolio to AFI Europe at a price of over EUR 300 mln.

andrei@romania-insider.com

(Photo source: the company)