“We have two funds for Romania, each with a €10 million budget. So far, we invested some €7 million in the acquisition of 37 hectares of land just outside Bucharest, and have a further 5 hectares near Brasov, where we want to buy another 5 hectares,” Shonn, Odessa’s Managing Director, told Business Standard.
The funds have a ten-year life span, with an annual yield of 20 percent. Odessa intends to launch, by year-end, two new funds for the region, worth a total €400 mln, which will focus on acquiring office buildings and industrial parks to yield immediate revenues from rents.
