ZF English

Praktiker store in Craiova sold for 10m euros

Autor: Cristi Moga

24.01.2011, 23:33 28

Real estate investor Bluehouse Capital, one of the major officespace owners in Bucharest, paid nearly 10 million euros for theland and the 8,300 square-metre building of the Praktiker store inCraiova, in this year's first real estate transaction, according toZF information.


The store was held by Cypriot businesspeople Savva Stylianos andPanayi Panayiotis through Omilos Investments, with the twoinvestors also being involved in developing ERA shopping parks inOradea and Iaşi.
"Bluehouse bought the Praktiker store in Craiova for nearly 10million euros," sources from the real estate market told ZF.
Omilos representatives said they were in negotiations to sell thestore, but did not provide additional information, while Bluehouserepresentatives did not comment on the information.
The Craiova store brought Omilos Investments 3.7 million RON (0.87million euros) in revenues in 2009, with the buyer's return on theinvestment amounting to around 9% in euros per year.

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