May 11 (SeeNews) – Real estate developer Studium Green acquired a portfolio of more than 100 real estate assets from Immobiliare Italo Romena, consultancy company Deloitte, which facilitated the deal together with Reff & Associates, said on Wednesday.
The portfolio includes a variety of facilities, such as offices, residential buildings, agricultural land, or hotels, primarily in Bucharest, Cluj-Napoca, and Oradea, Deloitte said in a statement. The deal’s value was not disclosed.
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The transaction was signed in August 2021, and a first batch of properties changed ownership in February 2022. The remainder of the properties will be transferred to Studium Green by the end of the year.
“I am particularly pleased with the acquisition of this portfolio of assets which were blocked for so many years due to the legal and financial situation of the Veneto Group,” Stadium Green CEO Dorin Bob said.
“The active re-introduction of these assets to the economic circuit will now provide local investors with valuable opportunities to develop a range of productive projects in many varied sectors.”
Immobiliare Italo Romena is a subsidiary of former Italian bank Veneto Banca, which has been in a state of compulsory administrative liquidation since 2017.
Studium Green is a real estate development company. Its portfolio includes over 1,900 homes and over 7,500 sq m of commercial property. Based on information supplied by the finance ministry, the company recorded a profit of 2 million lei ($428,000/ 406,000 euro), as well as a total turnover of 8.53 million lei in 2020.
(1 euro = 4.9479 Romanian lei)
