The largest residential deal in 2009

UK-based investment fund Tri Investments acquired through its real estate investment arm Salamanca Capital a portion of the residential compound Perla Residence for around 15.5 million euros.

The UK fund took over 69 apartments together with the adjacent facilities (parking lots), as well as the afferent land. This is the second completed deal of the year in the local real estate landscape, after Dan Adamescu acquired Westhouse Group’s Central Apartments project.

Perla Residence, a residential compound located near Pipera lake built by Crown Constructions, local subsidiary of Greek-based Morfi S.A. is made up of 85 apartments, 3 villas and other facilities afferent to a luxury residential project such as underground parking, club and fitness.

The construction works for the project started in 2007 and were completed at the end of 2008.

The Salamanca Group is a privately owned group of investment management and advisory companies with offices within Europe, the UK and South America. Established in 2001 the company sources and structures investments into high growth opportunities in the real estate, mining
and industrial sectors.

DLA Piper law firm assisted Tri Investments and its consultants in real estate investment process.

The legal advisory services offered by the team headed by Alin Buftea, senior associate at Bucharest office of DLA Piper, concerned the acquisition of the residential compound by the investment fund based in United Kingdom, the restructuring of financial methods regarding the payment of the purchase price by contracting a banking loan, as well as the legal oversight on the adjacent construction works.

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