January 18 (SeeNews) - Belgian real estate developer Speedwell and co-investor Baltisse said on Tuesday that they sold an office project in Romania's northwestern city of Cluj-Napoca to investment fund AYA Properties in a 35 million euro ($39.9 million) share deal.
The transaction involved 15,000 sq m of class A and retail office space and a sports club with a 2,000 sq m swimming pool in the Record Park project in Cluj, Speedwell and Baltisse said in a joint press release.
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In addition to the buildings that are the subject of the transaction, the complex also includes 236 apartments.
"Given the excellent location, quality of tenants and BREEAM certification, the project has become a first-class asset in our portfolio," AYA Properties Fund investment manager Simon Synaeghel said.
Speedwell has a significant portfolio of real estate projects in Romania, including Record Park in Cluj-Napoca, Triama Residence, The Ivy, Miro and SpacePlus in Bucharest, Paltim in Timisoara and Riverside City in Ramnicu-Valcea.
Baltisse is a top Belgian investment company active in the private equity, asset management and real estate sectors. It is present in Belgium, Luxembourg, the United States, Romania and Germany.
AYA Properties Fund is a regulated real estate investment management fund that focuses on sustainable assets in South East Europe.
($=0.8778 euro)