Bluehouse Capital Seeks New Property Deals In Romania

05.19.2011 By Andrei Circhelan

Greek Bluehouse Capital, which holds several office buildings, shopping centers and plots in Bucharest, will continue to acquire real estate projects in Romania, focusing on retail parks and industrial spaces, managing partner Babis Pandis said Thursday.

The company negotiated over 50 opportunities over the past three years, but only two of the deals were concluded, this year, Pandis told a realty seminar.

Bluehouse bought the Praktiker store in Craiova and the Astoria Center office building in central Bucharest, for a total EUR20 million.

In addition, the company refinanced last year two of its Romanian projects, namely City Gate with EUR80 million and Victoria Center with EUR20 million, both in Bucharest.

Bluehouse properties in Bucharest also include Olympia Tower and a minority stake in the City Gate project.

In addition, the company holds two plots in Bucharest areas Ghencea and Grivita, where it plans to develop large real estate projects.