$20m deal for Connex rented buildings

A group of Israeli investors operating on the real estate market in Bucharest through the Delta Intensiv-Trade company sold five office buildings that host departments of the mobile telephony operator Connex for 20 million dollars (16.8 million euros) at the end of last year, sources on the real estate market say. Two of the five buildings are located in the Capital in the Valea Cascadelor area and the rest are located in Craiova, Brasov and Bacau, the quoted sources add. The acquisition was made by Greek investors, who established a special purpose vehicle for this transaction. When contacted by ZIARUL FINANCIAR, the Delta Intensiv officials did not care to make any comment at the time of going to print. The buyers are making their first deal on the Romanian market, which they funded with a loan from Alpha Bank, the quoted sources say. The Greeks also own property on other real estate markets in the region, such as Bulgaria. This deal is the first sale of office buildings outside Bucharest, according to the latest available information. The developer Delta Intensiv-Trade had previously sold two buildings in the capital, also rented by Connex, last year. ZF