Austrian property company Immoeast, a unit of Immofinanz, has acquired a shopping centre project in Costanta, Romania for an investment of EUR 185 mln. Construction of the 90,000-m[sup]2[/sup] space will begin in the summer of 2007, with completion expected in the autumn of 2008. The transaction is a forward purchase upon completion and letting of the property.
Portuguese real estate investor and developer Bondstone is investing around €70 mln in a residential development in Belas Clube de Campo, municipality of Sintra, Portugal.
