Allianz SE spends EUR110m on three office buildings in Romania

Degi Deutsche Gesellschaft fur Immobilienfonds mbH (DEGI), a real estate investment company owned by Allianz SE, Europe's largest insurer, paid 110 million euros for three office buildings formerly owned by Charlemagne Capital in Romania, according to The Money Channel.

The announcement was released today by the London Stock Exchange. DEGI clinched the deal with Charlemagne Capital on July 31.

The three buildings are PVG Tower, Construdava and Millennium Business Center. The British based Charlemagne Capital bought the three office buildings between February and July 2006.

After selling the three office buildings Charlemagne Capital reported a 25 million euros profit.