Europolis overshoots 100m-euro mark

Austrian property investment fund Europolis has invested approximately 103 million euros on the Romanian market thus far. The money went to the projects it is involved in, namely the Europe House office building and the Cefin Logistic Park. The Austrians entered the Romanian market in 2003 when they bought Europe House, developed by GTC, for approximately 31 million dollars (more than 26 million euros). A year later the Austrians made their second investment on the domestic market, by becoming involved in the over 75 million-euro project, Cefin Logistic Park. The Europe House project is also known as the Orange building, as it is the headquarters of the mobile telephony operator Orange Romania. The second transaction involved Europolis” acquisition of the company developing the Cefin Logistic Park, which was in its early stages of development at the time. The investments in the further development stages were to be made by Cefin with funds provided by Europolis. ZF