Israeli Billionaire Teddy Sagi Sells Office Building in Bucharest

Israeli billionaire Teddy Sagi is selling another office building he owns in Bucharest. The buyer is Star Residence Invest, a REIT company, with which he signed a letter of intent last summer regarding the acquisition of the building.

Star Residence Invest announced that it has signed the sale-purchase contract for the Polonă 68 building, owned by the Smartown group, indirectly controlled by Israeli businessman Teddy Sagi.

“The completion of the transaction is subject to the fulfillment of certain suspensive conditions, including obtaining the necessary approvals under applicable law, as well as the fulfillment of other customary conditions for this type of transaction,” the Star Residence Invest company announcement states.

The office building has five floors, a leasable area of ​​9,500 sqm, and the agreed purchase price is EUR 19 million.

Source: economica.net