Austrian investment fund Immoeast has paid EUR 60 million to acquire from Belgian company Liebrecht & wooD the Victoria Park office complex in Bucharest.Victoria Park comprises four office buildings with a total lettable area of some 20,000 square metres and is located close to the Baneasa Airport. Some of its most important tenants are KPMG, Siveco and BIC. Two of the buildings are completed, while the others will be ready in September.
Liebrecht & wooD has also previously sold the Militari Shopping Centre in Bucharest to another Austrian fund, Meinl European Land.
Immoeast AG was founded in 1999 as a subsidiary of Immofinanz to manage the parent companys activities in Central Europe. The company is now present in Hungary, the Czech Republic, Poland, Romania, Slovakia, Bulgaria, Estonia, Russia, Ukraine, Slovenia, Croatia and Serbia. The Immoeast property portfolio includes 251 objects with 3.8 Mio. sqm of usable space.