CA Immo's Romanian Assets Valued At EUR444M

05.23.2011 By Andrei Circhelan

The market value of assets owned by CA Immo in Romania reached EUR444 million after the takeover of Europolis, according to company data.

The Romanian portfolio represents some 20% of the Central and Eastern Europe (CEE) portfolio owned by CA Immo, estimated at EUR2.3 billion.

CA Immo, Austria's second-largest realty developer, holds nine complete projects in Romania, evaluated at EUR382 million and with an average yield of 8.3%. Assets currently under development are evaluated at EUR62 million, according to the company.

CA Immo's Romanian properties include Bucharest office buildings Opera Center, Europe House, Bucharest Business Park, among others.

The CA Immo group took over Europolis, the property investment division of Austrian Volksbank, in a EUR272 million transaction concluded last year. Europolis has realty assets worth a total EUR1.5 billion in CEE, which became part of the CA Immo Group portfolio on January 1, 2011.