Aura Investments buys stakes in three Plaza Centers developer projects

Israeli company Aura Investments has purchased a plot in Craiova, for 10.5 million euros, where it will build a mall, and has taken over stakes in three projects of the Plaza Centers developer, according to the globes.co.il website. Aura Investments, a company listed on the Tel Aviv Stock Exchange, has taken over the 25,000 square-metre land in Craiova through a subsidiary. In a separate transaction, Aura Europe, a subsidiary of Aura Investments, has signed a Memorandum of Understanding with Plaza BAS BV, a subsidiary of Plaza Centers NV and of the Baron-Adam group, in order to take over stakes in several companies. Aura will take over the remaining 25% in Bas Development SRL, thus becoming the sole shareholder of the company, which is building a 385-home complex in Ploiesti. The developer will also buy half of Sunny Invest SRL, which intends to build a 250-home residential complex, following a 17.5 million-euro investment. When the works are completed, the market value of the complex is estimated to stand at 22.5 million euros. Aura will also acquire half of Colorado Invest SRL, which owns a plot in Brasov, where 425 homes will be built. The company anticipates the investment will total 33.6 million euros, with the market value to stand at 42 million euros.