RREEF, the property arm of Deutsche Bank, has agreed to pay EUR 341mln in the forward purchase of a 410,000 m[sup]2[/sup] mixed development in the Romanian capital of Bucharest. Ioannis Papalekas, the entrepreneur-developer of the properties, is to retain a 22% stake in the scheme. RREEF said the transaction is the largest real estate deal ever in Romania. The project involves residential and office space as well as a large underground carpark in the Pipera area of the Romanian capital.
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