According to the fund’s latest financial report, the Immoeast portfolio includes 80 properties in Romania, with more than two million square meters in rental space, worth at least €1 billion.
“Immoeast has identified solutions for 70-80 percent of its projects in Romania, for half of which exit was the solution,” sources said. The fund is to exit projects that have not yet been launched, for which only the land was purchased, and some partnerships, they added.
Immoeast this year sacrificed two of its largest partnerships, with the European Future Group developer and the S+B Gruppe construction company. A partnership with Eyemaxx real estate company was also canceled.
Company officials denied that Immoeast plans to exit half of its projects in Romania. “It is true that we have found solutions for 80 percent of our projects, but the information that we sacrificed half of these is incorrect. I cannot give an exact percentage,” Immoeast Managing Director, Gunther Bukor, told Business Standard.
