BUCHAREST (Romania), September 24 SeeNews) - French-based investment fund AEW sold its Romanian portfolio to the real estate investment division of Morgan Stanley in association with a group of Israeli real-estate investors and to Hungarian investment group Indotek.
The transaction included America House, a landmark A-class office building in Bucharest, acquired by Morgan Stanley together with the Israelian real estate investors, and the Promenada Mall Târgu Mures, acquired by Indotek Group, the deal advisor, Clifford Chance Badea said in a press release.
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The value of the deals was not disclosed.
"We continue to engage in the most high-profile deals on the market, this time being simultaneously involved in two transactions that brought at the negotiation table two financial giants and some of the most active regional real estate investors," Clifford Chance Badea Banking and Finance counsel Andreea Șisman said.
Owned by French-based financial group Natixis, AEW is one of the largest real estate investment managers in the world. It entered the Romanian market in 2007, through the acquisition of America House from Globe Trade Center and, a few months later, the acquisition of Promenada Mall Targu Mures from BelRom.
Clifford Chance has been present in Romania since 2006.