Charles de Gaulle Plaza, the biggest office building on the domestic market, has been acquired by investment fund Accession fund for more than 80 million euros in the biggest transaction ever conducted on the Romanian real estate market thus far. The main tenant of the building is mobile telephony operator Vodafone Romania. "It is official. Neither us, nor CA Immo own the building any more. The value of the transaction exceeds 80 million euros," Alexander Hergan, the representative of Avrig 35, the developer of Charles de Gaulle Plaza, which held half of the project through F&C International BV, told ZIARUL FINANCIAR. Hergan thus verifies the information that spread on the real estate market last week concerning the sale of Avrig 35''s interest in the project. Hergan is one of the most powerful developers in Romania, but prefers to keep a low profile. The other party to have sold together with Avrig 35 was CA Immo, the Austrian investment fund that had participated in the development of the real estate project. "CA Immo had pre-emptive right, meaning that if a buyer offered a specific amount, CA Immo could buy the project if it came up with the amount in question," Hergan added. The sale of the office building with a lettable area of 24,000 square metres is one of the most eagerly awaited deals of the last two years. "The building was never up for sale. Of course, every investment fund coming in Romania would drop by and make us an offer. We selected 4 or 5 bidders and even were in advanced talks with two or three funds. In the end we closed the sale with the most serious of them," Hergan specified. ZF
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