Immofinanz sold the former Armonia Arad shopping center to Oresa, a company controlled by Swedish investors, with a presence on the local market. Oresa intends to develop a mixed-use project with an industrial and a retail component.
“The transaction is an important step for us and is part of the company’s strategy to consolidate and expand the successful brands we have in our portfolio, namely myhive, on the office segment, as well as VIVO! and STOP SHOP, on the retail segment,” said Fulga Dinu (photo), Country Manager Operations, Immofinanz Romania.
“This is the second acquisition of the Oresa real estate division in Romania this year. We find it interesting the opportunity to transform this property into a modern industrial and retail park, very well positioned, both for large and small and medium customers, who need modern spaces close to the city, for leisure activities. production, storage or showrooms,” said Cornel Marian, Managing Partner Oresa.
The modernization of the property will start after the completion of the plans and obtaining the permits, in the first half of 2022, and the launch is planned for the first half of 2023.
The entire project has an area of 110,000 sqm of land and a gross leasable area of 43,000 sqm.