The fund had purchased the real estate project, with an area of about 12,500 square meters, from German transport company Transalkim for EUR 3.95 million, in 2007. At the end of June, EEP assessed the property in Romania at some EUR 1.68 million.

Following the deal, EEP will focus on activities in Turkey and Bulgaria, according to a press release of the investment fund.

After taking over the center in the Gara Progresul area, the fund announced investments of EUR 20 million in the Romanian real estate sector. The crisis cancelled the fund’s plans. (source: Romania-insider.com)