British fund Equest to raise another 50m euros for Romanian investment

British real estate investment fund Equest Balkan Properties, which owns eight properties on the domestic market, aims to raise funds worth 50 million euros by September this year from the AIM market of the London Stock Exchange, where the company is listed. The funds are primarily destined to finance projects under development on the Romanian market, such as the two projects located in Bucharest -Vitantis retail park and logistic park, explained George Teleman, a partner in the London-based fund. “Our projects in the pipeline cover around 50 million euros and are scheduled for completion in 2007. We have a preference for retail parks, logistic centres and car parks – all of which are projects that are in the pipeline,” specified Teleman. The UK investment funds portfolio has been recently evaluated at 159 million euros, up 14% against the value registered at the end of 2006, added Teleman. Three of the projects- Vitantis Retail Park, Bucharest West Logistics Park and the Europark car park, are currently in various stages of development.