The sale could be made at a minimum 6.5 percent yield, he told Business Standard. “We have a good partnership with Immoeast,” Rogiers added.
The first project developed by the Belgian company on the local market, Militari Shopping Center, was sold to Austrian investment fund Meinl European Land, following a deal worth €20 million.
A second project, Victoria Park, was purchased by Immoeast for €60 mln. The company is currently developing outlet center West Park, which it plans to keep for two or three years in its portfolio and sell it later, eventually. It is also negotiating the acquisition of a piece of land near Bucharest, to develop a second outlet center, with an investment worth €35-40 mln. Liebrecht&WooD also owns several other plots of lend around Bucharest, which it could sell in the following years.
