Portland Trust acquires 1.6 hectares of land on Jiului Street

Razvan Zamfir 27/09/2018 | 05:31

Real estate developer Portland Trust has acquired a land plot of 1.6 hectares, on Jiului Street, in  a transaction of about EUR 5 million.

The company wants to develop another office project, with two buildings of around 50,000 sqm rental surface in the area, trying to take advantage of the Jiului Metro station from immediate vicinity.

Portland Trust, founded by Robert Neale, developed six office projects in Romania, Opera Center I and II, Bucharest Business Park, Floreasca 169A, Floreasca Park and Oregon Park.

Last project, Oregon Park, was recently sold for around EUR 170 – EUR 180 million to Lion’s Head Investments investment fund, a joint venture between the South African investment fund, Old Mutual Property and AG Capital, an active investment group in South East Europe for more than 25 years.

Currently, Portland Trust has two projects under construction in Bucharest – Building C in Oregon Park, respectively Expo Business Park, located in the Expozitiei Boulevard, in the North area.

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