The American Village residential project in Bucharest was put up for sale for a starting price of EUR 9.3 million, representing 35 percent of the developer’s debt to BCR, the project’s lending bank, according to Mediafax.
The residential project, developed by the company Mainrom Invest, is in bankruptcy.
Edge Business Restructuring, which is the liquidator company, wants to sell 72 villas, six apartment buildings and a club, the total built-up area amounting to approximately 50,000 sqm and the land on which it is developed the real estate complex is about 6.5 hectares.
The project, located in Northern Bucharest, targeted the construction of 126 villas and a number of six apartment buildings with 254 flats, following an investment of about EUR 50 million.
The construction of the residential compound started in 2006 and the 126 villas are currently in different development stages.