Romania’s Meta Estate Trust exits real estate project

Meta Estate Trust sold its last property owned in the Mobexpert Homes project, which was an early stage investment with an annualised internal rate of return (IRR) of 29.6%, it said in a report filed with the Bucharest Stock Exchange on Tuesday.

Mobexpert Homes is a residential project developed in the Pipera neighbourhood, at the northern edge of Bucharest.

The holding company also finalised the acquisition of Poiana SPV to strengthen its position in Romania’s Poiana Brasov mountain resort.

“Through these transactions, on the one hand, we have leveraged existing investments as they mature and achieved attractive returns for investors," Alexandru Bonea, Meta Estate Trust CEO, said.

Meta Estate Trust was established in 2021 and is currently listed on the AeRO market of the Bucharest Stock Exchange. The company's shares traded 2.94% higher at 0.7 lei as at 1009 CET on Friday.

(1 euro=4.974 lei)