FM newsroom – office, Bucharest. Deloitte Romania assisted the Romanian entrepreneurial group Alfa Group in the acquisition of the largest part of the IRIDE Park project, located in the North of the Capital, along with two other properties in the proximity, from CPI Property Group.
IRIDE is the first and one of the largest business parks in Bucharest, located in the Pipera area. In addition to office buildings and logistics spaces, the project includes a parking area, restaurants and cafes, convenience stores, a medical centre and a dental clinic. According to officeinforent.ro, the transaction was signed in October 2024.
Deloitte Romania assisted Alfa Group in the financial due diligence phase
“Ever since they entered the real estate market in 2007, Alfa Group has constantly expanded its portfolio, both in the office and the residential segments. This acquisition, to which we are glad to have been able to contribute, marks another important step in the group’s development path. The transaction turned out to be complex, involving the partial sale (carve-out) of the IRIDE portfolio, excluding assets such as Iride eighteen, myhive | Iride nineteen or myhive Metroffice, but aligned with CPI Property Group’s recent strategy to optimize the current portfolio of properties held in Central and Eastern Europe,” – Radu Dumitrescu, Financial Advisory Partner-in-Charge, Deloitte Romania.
Alfa Group includes oil and gas, real estate, insurance and private equity companies. Its real estate portfolio, developed through Akcent Development, includes several office buildings and residential developments in Bucharest.
IRIDE park
Four buildings consisting of IRIDE 18, myhive I IRIDE 19, myhive I IRIDE 20, and myhive Metroffice are not part of the transaction, remaining in CPI Romania’s portfolio, according to local business daily Ziarul Financiar.
IRIDE Park offers 83,286 sq m of rental space, including office spaces of different sizes and arrangements, according to data published on the website of Austrian investor Immofinanz, which is 75% owned by CPI Property Group, as Seenews.com informs.
Image: immofinanz.com