Fabian Romania Property Fund has agreed to buy the Baneasa Business Center office in the north of Bucharest from Austria's Immoconsult Leasinggesellschaft for EUR 24 mln. The office development is part of the one million m[sup]2[/sup] Banaesa project - one of the largest urban development projects in Europe. The business centre proeprty generates EUR 1.85 mln in rent annually. Once refinanced, Fabian Romania's net equity investment will be EUR 5 mln.
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