The Bucharest office of DLA Piper has advised Tri Investments, a UK investment company, and Salamanca Capital, its Investment and Property Adviser, on the purchase of a major part of Perla Residence, the residential complex developed by Crown Constructions, in a deal worth approximately EUR 15.5 mln. It is believed to be Romania's largest residential property deal this year.
The Bucharest office of DLA Piper has advised Tri Investments, a UK investment company, and Salamanca Capital, its Investment and Property Adviser, on the purchase of a major part of Perla Residence, the residential complex developed by Crown Constructions, in a deal worth approximately EUR 15.5 mln. It is believed to be Romania's largest residential property deal this year.
Senior Associate Alin Buftea led the DLA Piper team advising on this deal. 'Completion of this transaction is a positive sign that foreign investment funds are still interested in the local real estate market,' said Alin Buftea.
DLA Piper expects that the transactions which are now on hold or which have been slowed down by the financial blockage will be resumed or pushed forward in the second part of the year subsequent to a revision or restructuring of external portfolios held by investment funds active in Romania or due to alternative financing options.
Perla Residence is situated near Pipera Lake in Bucharest. The complex is made up of 85 apartments, three villas and associated facilities relating to a luxury residential complex such as underground parking, a club and a fitness centre.
