Fabian acquires 60m-euro office projects

British real estate fund Fabian Romania Property, one of the most active players on the local market, has acquired the office project Cubic Centre, which is being developed in the Pipera area of the Capital, in an approximately 60 million-euro transaction, the company listed on the London Stock Exchange has announced. At the beginning of this year, the fund, which focuses on investments on the real estate market, had plans to make 150 million-euro investments by this summer, on all segments of the real estate market, according to Mark Holdsworth, chief executive of the fund. Construction works for the 12-storey office building have already started, and are set for completion in the second quarter of 2009. Cubic Centre has a 44,000 square-metre surface area, 27,000 square metres of which account for the lettable area, and a 533-spot car park. Kendama Limited, registered in the British Virgin Islands, is the building’s developer.