ZF English

Fabian properties, 40% rise in value

07.08.2007, 20:36 10

The market value of seven of the nine properties held by Britain's Fabian Romania Limited investment fund has increased by 38% against the original purchase prices (the takeover deals were sealed during the November 2005-June 2007 period). The seven properties involved initial investments worth 65.5m euros on the part of Fabian, with the market value in late June being put at 90.4m euros. The biggest investment, so far, is the takeover of Baneasa Business Centre office building for 23.9m euros in June, a project recently reassessed at 27.6m euros, up 15%. The list of reassessed properties includes Cascades Business Centre (23%) and Banu Antonache (26%) office buildings, as well as two office projects currently under development: Lakeview (53%), developed jointly with AIG/Lincoln, and Cubic Centre, Fabian's most extensive project, estimated to be valued at 60m euros when completed.

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