Total income from rental contracts amounted to €322,000 in 2007, while property acquisitions exceeded €21.7 million. The company acquired four properties Bucharest, Iasi, Bacau and Brasov, administered by Flamingo International and Flanco International companies, which required an investment of €11.8 mln. “The transaction was closed at an 8.6 percent yield and the amount was paid from the fund’s own resources,” shows the report. The contracts to rent the properties have been signed for an average eight years.

NEPI also acquired an industrial park in Rasnov, Brasov County, for €15.2 mln. The property was sold at a 7.75 percent yield, with funds from the company’s own funds. The rental period is 13 years, and initial monthly rent is some €4.34/per square meter.

In February, the British fund also acquired two companies, which own 18 properties in several cities in Romania. The deal was signed at a 7.6 percent yield, and is worth some €46.3 mln.

The operational profit from properties is estimated at some €3.6 mln a year, with the main tenant Raiffeisen Bank.