Alfa Group takes over part of the Iride Park project from CPI Romania

Alfa Group, through Iride Development, has acquired from CPI Romania the largest part of the Iride Park project in Bucharest, the associated logistics and two nearby buildings with great potential for further development, in accordance with the agreement concluded in October by both parts 1.

Iride buildings eighteen, myhive | Iride nineteen, myhive | Iride twenty and myhive Metroffice are not part of this transaction and will continue to be owned by CPI Romania.

Fulga Dinu, Country Manager of CPI Romania, comments: “The transaction concluded with the Alfa Group is part of the process of optimizing CPI’s portfolio in Romania, which consists of some of the most valuable office and retail projects on the local market, which were purchased from Immofinanz and S-Immo . Our strategic priority is to invest in the development and modernization of integrated assets to increase the value and attractiveness of our high-end office buildings and shopping centers.”

“The Iride Park assets join the solid portfolio of premium real estate projects implemented by Alfa Group in the office and residential segments in Bucharest. The transaction we are signing today is one of the most representative real estate acquisitions announced in Romania in recent years, and also one of the most complex,” said Mihai Măcelaru, CEO of Alfa Group.

PeliPartners Alfa Group assisted in the transaction.

CPI Property Group is one of the largest real estate owners in Europe. With a real estate portfolio worth over EUR 21 billion, CPIPG owns luxury office properties in the main capitals of Central and Eastern Europe, namely Prague, Berlin, Vienna, Bucharest and Budapest. The group also owns commercial properties in Central and Eastern Europe, as well as hotels, residential premises and land.

Alfa Group, founded by Alina Niculae, brings together several leading companies from various industries, the most famous of which are OSCAR Downstream (oil and gas), Akcent Development (real estate) and Onix Asigurări (guarantee insurance). The real estate portfolio in Bucharest includes the Oscar One, Maria Rosetti Tower, Eminescu Offices, Mendeleev Office 5 office buildings, as well as the Cloud9, 19th Residence, 20th Residence and 21 Residence real estate projects – stages 1 and 2.

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