Magnat Real Estate Opportunities intends to develop 400 apartments on a 7,000 m[sup]2[/sup] plot of land in the Vacaresti district of Bucharest. The site was purchased through a local company in which Magnat holds a 75% interest. The total investment volume for the project will be EUR 40 mln.
CDC Investissement Immobilier, the real estate asset management subsidiary of French financial institution Caisse des Dépôts, has inked a strategic partnership with Covivio in Germany.
