North Real Estate Opportunities Fund has announced the acquisition of a retail park in Romania for EUR 83 mln. The deal involving the 50,000 m[sup]2[/sup] European Retail Park Sibiu in Transylvania is thought to be one of the largest real estate deals in Romania to date, Freeman European News reported. The project is expected to generate a rental yield in access of 8%.
North Real Estate Opportunities Fund has announced the acquisition of a retail park in Romania for EUR 83 mln. The deal involving the 50,000 m2 European Retail Park Sibiu in Transylvania is thought to be one of the largest real estate deals in Romania to date, Freeman European News reported. The project is expected to generate a rental yield in access of 8%.
London-based North Asset Management, a specialised alternative investment management firm that manages over EUR 785 mln, set up the closed-ended North Real Estate Opportunities Fund in August 2006 to cash in on the growth of disposable income in the Central and Eastern Europe (CEE) region.
The fund is looking to invest in the Czech Republic, Poland, Slovakia, Hungary, Romania and Bulgaria, North Asset Management said.
