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  • Avrig 35
    in the fund s investment adviser and one of Avrig s directors is also a director of the fund s investment adviser Dan Pascariu one of the fund s directors is a minority shareholder in Avrig 35 The Avrig 35 Group is controlled by businessmen Alexander Hergan The properties acquired by NEPI in Romania comprise some 47 000 sqm of lettable space of which only 32 000 sqm is currently leased Some 4 800 sqm is under refurbishment The buyers expect the 18 properties to generate EUR 3 6 million in annual income provided they are fully leased out The final purchase price payable depends on the net rental income generated by the properties The two companies that have been sold registered a EUR 700 000 loss in 2007 and have an aggregate net asset value of EUR 9 8 million NEPI s first investment in Romania consisted of the takeover of four retail properties from Romanian retailer Flamingo for a total of EUR 11 8 million The fund which had previously raised money through an IPO on the London Stock Exchange to invest in Romania bought the Flamingo properties at an 8 5 percent yield according to its announcements The achieved yield exceeds the current market average for retail some 7 percent This is a special director for the fund in Romania investing in high street retail Usually we invest in office buildings commercial centers Of the EUR 200 million the fund has to spend Romania could get between 30 to 100 percent Victor Semionov director with NEPI Investment management told Business Review NEPI also acquired at the end of last year an industrial park in Rasnov in a transaction worth EUR 15 2 million Avrig 35 Group set up in 1999 was working on 17 underway projects in

    Original URL path: http://www.avrig35.ro/news/stire/11/New-Europe-Property-fund-buys-properties-from-Avrig-35-for-EUR-46-mln (2016-05-02)
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  • Avrig 35
    existing industrial structures on site and we hope to get to construction works in nine months from now said van Breemen Overall the project should take five to seven years to complete The residential portion of the project should target low to medium earners at an average price of EUR 1 200 per sqm says van Breemen Avrig 35 and Cascade have equal stakes in the project The piece of land was bought a year and a half ago and is now worth EUR 60 million which is more than double the price paid said van Breemen The almost EUR 800 million project and the underway Cascade Euro Tower office building should keep Cascade busy for the next couple of years so the company has no intention to pursue projects outside Bucharest Everybody is going outside Bucharest out of necessity I have 30 hectares in Bucharest I need to take care of these says the group head Another Cascade project in partnership with another party is the EUR 60 million Cascade Euro Tower a green building in which the developer gets a 40 percent helping hand from investment fund Charlemagne Capital They let me do my job as a developer says van Breemen about the partnership with Charlemagne Although already approached by other investors to sell the project van Breemen says it is too early in the game to consider a sale as there is no rush But both parties will jointly sell to a third one he goes on The project should be completed in March 2009 The Euro Tower building some 26 000 sqm of offices in the Barbu Vacarescu area is already one third leased to Banca Romaneasca which will occupy six of the planned 18 floors The building will be erected on a 2 000 sqm plot which Cascade bought three years ago The firm has chosen to invest in green areas around the building and on its roof top and is designing the building so that it increases the natural light The additional cost for a green building is marginal Maybe we had some opportunity loss as we could have built retail on the ground floor but we decided not to This translates into EUR 1 5 million less in value when the building is sold van Breemen explains Although he had received permits to build on 60 percent of the footprint he decided to build only on 35 percent and cover the rest of the land with green areas Cascade s first deal on the market the sale of Cascade Office Building in November 2005 to investment fund Fabian was also the fund s first investment in Romania It took us half an hour over a cup of coffee to negotiate the deal says van Breemen Overall it took two to three months to get the necessary paperwork done and sign the deal he remembers It is a meeting of minds sometimes and it is also about people Moreover the simpler you keep the

    Original URL path: http://www.avrig35.ro/news/stire/10/Cascade-joins-Avrig-35-in-EUR-800-mln-project-on-Zentiva-plot (2016-05-02)
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  • Avrig 35
    his discreet operations has sold a portfolio of 18 properties for around 46 3 million euros to investment fund New Europe Property NEP Investments a fund listed on the AIM market of London Stock Exchange The project consists of office buildings that are located in cities like Constanta Brasov Targu Mures and Craiova A portion of them have been modernised recently while others are still under renovation We are in talks for further acquisitions and we have the funds to conduct new investments Victor Semionov manager of NEP Investments told ZF This is the third project sold by Hergan after the firm collected around 40 million euros for a 50 stake held in Bucharest s Charles de Gaulle Plaza office building and 30 5 million dollars for another two office buildings in the Obor area According to the latest information available Hergan is developing projects worth over 500 million euros with prime investments such as Tower Center International building developed in Bucharest s PiataVictoriei Victoriei Square Industrialexportimport and a retail park in Pitesti Up Avrig 35 Group Avrig 35 Group was established in 1999 by four American investors Since its inception the Group has grown to become one of the

    Original URL path: http://www.avrig35.ro/news/stire/12/Hergan-sells-office-buildings-worth-46m-euros-outside-Bucharest (2016-05-02)
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  • Avrig 35
    grupul Avrig in afara Bucurestiului se mentioneaza in comunicatul de presa Constructia in cadrul acestui proiect care cuprinde trei faze a inceput in luna martie a acestui an primele doua faze fiind deja finalizate Este vorba despre hypermarketul Auchan deschis la sfarsitul lunii octombrie a acestui an si despre magazinul de bricolaj Bricostore deschis la data de 7 decembrie a acestui an A treia faza a proiectului respectiv deschiderea The Iris Shopping Mall este asteptata in primavara anului viitor Mall ul are va avea o suprafata inchiriabila de 7109 metri patrati cu 43 de magazine comerciale Suprafata construita a mall ului are aproximativ 41 400 metri patrati Proiectul dispune de 1500 de locuri de parcare Grupul Avrig 35 a fost fondat in anul 1999 de patru investitori americani si a demarat mai multe proiecte in Bucuresti Potrivit NewsIn cel mai important proiect din Capitala realizat de Avrig 35 este cl direa de birouri Charles de Gaulle Plaza achizitionata anul trecut de fondul de investitii Accesion Fund pentru 85 de milioane de euro Grupul de firme derula la jumatatea acestui an proiecte imobiliare in valoare totala de peste 500 de milioane de euro in mai multe orase din tara printre care

    Original URL path: http://www.avrig35.ro/news/stire/16/Hypermarket-magazin-de-bricolaj-si-mall---investitie-de-50-milioane-euro-la-Pitesti (2016-05-02)
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  • Avrig 35
    Irina Abaza Adelin Munteanu Ana Tomescu Virginia Toma Alina Tudor sau Maria Patriche artisti voluntari sau membri ai Colectiei Avrig 35 Obiecte de ceramic sticla pictura i sculptura bijuterii din ceramica felicitari sau calendare pot fi achizitionate la preturi cuprinse intre 10 lei si cateva sute de euro Avand ca tema principala Cum vad copiii Cr ciunul targul aflat la cea de a doua editie ramane deschis pana pe 28

    Original URL path: http://www.avrig35.ro/news/stire/17/Targ-de-Iarna-la-Galeria (2016-05-02)
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  • Avrig 35
    investitii de circa 500 mil euro a finalizat trei proiecte de birouri din Brasov Sibiu si Zalau potrivit companiei de consultanta DTZ Echinox care se va ocupa de inchirierea imobilelor de birouri Cele trei spatii de birouri au o suprafata totala de circa 9 500 de metri patrati cele mai mari fiind situate in Brasov si Zalau cu circa 3 500 3 900 de metri patrati construiti Avrig 35 are in derulare proiecte aflate in diferite stadii de executie si vor include in total peste 300 000 de metri patrati de spatii comerciale rezidentiale si de birouri Suprafetele comerciale vor avea o pondere de circa 50 iar locuintele si cladirile de birouri vor reprezenta cate 25 din totalul constructiilor Cele 17 proiecte vor fi dezvoltate in Bucuresti Suceava Piatra Neamt Focsani Constanta Satu Mare Arad Timisoara Brasov si Pitesti Cel mai important proiect dezvoltat de Avrig 35 este cladirea de birouri Charles de Gaulle Plaza din Capitala vandut catre germanii de la GLL Real Estate Partners pentru circa 80 mil euro Up Avrig 35 Group Avrig 35 Group was established in 1999 by four American investors Since its inception the Group has grown to become one of the leading real

    Original URL path: http://www.avrig35.ro/news/stire/18/Avrig-35-inchiriaza-trei-imobile-de-birouri-in-provincie (2016-05-02)
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  • Avrig 35
    of Commercial Premises Residential and Offices The Commercial Premises will have a percentage of 50 and the residential and office buildings will represent almost 25 of the total constructions specified the mentioned sources The 17th projects will be developed in Bucharest Suceava Piatra Neamt Focsani Constanta Satu Mare Arad Timisoara Brasov Pitesti Avrig will develop six projects in Bucharest one solely residential three mixed Residential and Commercial Spaces and also two building piles offices The first four projects will be built in the North Areas East and South of Bucharest and will include over 5000 apartments and two Hypermarkets with a total surface of 120 000 sqm The total investment amount it exceeds Euro150 mil Avrig purchased last year from the medicine producer Zentiva one land of almost 30ha in Bucharest on which intends to build a mix ensemble residential Commercial Premises offices with a total investment amount exceeds Euro 100 mil and the works might start in the first trimester of the following year Last year the group purchased the dividends of the ex Solventul from Timisoara including also the relevant land with a surface of 44ha where it could initiated major real estate project Also Avrig 35 will finalize in about 3 months the construction of the Auchan Hypermarket in Pitesti The Complex will have a surface of 50 000 sqm and the investment is up to Euro 40 mil In Brasov the company will invest 10 mil Euro for the construction of Class A Office building with a total surface of 10 000 sqm The projects financing will be realized most of the company from amounts proceed from Investment Funds American and West European Banks but the group has also contracted loans from various Romanian banks The group is composed of 35 companies which develop construction activities

    Original URL path: http://www.avrig35.ro/news/stire/19/Avrig-35-Group-develops-projects-over-500-mil-euro (2016-05-02)
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  • Avrig 35
    Business Review Supplement Estates construction market 17 12 2006 Local developer Avrig 35 will put EUR 50 million into a retail park in Pitesti to feature an Auchan hypermarket a mall and a Bricostore do it yourself store Construction works started in March this year and the hypermarket and the Bricostore have already opened The mall called Iris Shopping Mall will be delivered in spring next yea according to DTZ Echinox the real estate agency promoting the project This is the biggest investment carried out by Avrig 35 outside the capital to date The commercial center will deliver over 7 100 sqm of leasable area in 43 stores It will be built on a one hectare plot and will also feature 1 500 parking places Developer Avrig 35 has built the Charles de Gaulle Plaza office building in Bucharest which was sold in stages to CA Immo and then to GLL Real Estate Up Avrig 35 Group Avrig 35 Group was established in 1999 by four American investors Since its inception the Group has grown to become one of the leading real estate developers in Romania The company draws upon the extensive experience of its owners and employees to approach

    Original URL path: http://www.avrig35.ro/news/stire/13/Avrig-35-to-spend-EUR-50-million-outside-Bucharest (2016-05-02)
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