Daniel Stefanescu buys IPA office building in northern Bucharest

Businessman Daniel Stefanescu, owner of Gersim, one of the largest distributors of phones and tablets in Romania, has bought the IPA building, across the street from Promenada Mall, in northern Bucharest, from a group of shareholders. The transaction was made at a price of about EUR 12 million, according to sources in the real estate market.

The IPA building is structured on a basement, dedicated to a parking lot with 80 spaces, a ground floor and 6 floors and has a rentable area of 8,700 square meters. The building produced approximately EUR 900,000 per year in rent.

Daniel Ștefănescu entered the Bucharest real estate market in 2021 when he bought a plot of land with an area of 11,575 square meters at the base of the Grant Bridge in Sector 6, on which he wants to build residential towers.

Source: Profit.ro