The largest transaction in the last 12 months: Ovidiu Sandor sells with 90 million euro the City Business Center offices in Timisoara

The businessman from Timisoara, Ovidiu Sandor has signed with South Africans from New Europe Property Investments (NEPI), the largest real estate transaction of the last 12 months and sold the City Business Center office project (CBC) for 90 million Euro.

The first three buildings were sold for little more than 45 million Euro, of which 16.5 million Euro will be paid in NEPI shares, the  difference being represented by loans of 29.2 million incurred for the project. The buildings which are currently being finalized and will have a leasable area of about 20,000 square meters are "the subject to a maximum transaction price of 46 million Euro", according to NEPI representatives, value that could lead the transaction to 90 million Euro.