GED Real Estate raises $15m

Spanish company GED Capital Development, the company managing the Romanian Post Privatisation Fund (FRPP) has found the first investor willing to contribute $15 million to the realty investment fund the company will launch this year. The company is now on the prowl for another major investor, said Francisc Bodo, GED Capital deputy general manager. “We realised we needed another sponsor (investor, i.e.), who will contribute at least the same amount of money and we hope to round up negotiations in the next few weeks,” Bodo told Ziarul Financiar. ZF