InteRo Property Development closes EUR 16 million bond issuance with CVI

InteRo Property Development, a leading real estate developer dedicated to urban regeneration through sustainable and innovative projects and developing modern communities, announces a 16-million-euro bond issuance for the development of Pajurei 3 Residence luxury project located within a 3-minute walk from the Jiului metro station in the Bucharest Noi area. The agreement was recently closed with CVI, an independent asset manager from Poland, operating since 2012 and managing portfolios for 8 investment funds in private debt strategies with a total AUM of nearly EUR 900 million.

Part of the capital raised is allocated to the completion of works of the Pajurei 3 Residence real estate project, while another part will be used for refinancing another investment. Pajurei 3 Residence is the first luxury project developed by InteRo. It received the building permit in April 2024 and currently the underground structure is completed, and the aboveground structure will be completed in June. This luxury residential project will provide 160 apartments with refined design and beautiful amenities, including outdoor pool, barbeque area, fitness centre, event room, a children’s playground and dog parks. 60% of the Phase 1 apartments have already been sold.

”We are pleased to have successfully secured this financing for Phase 1 of Pajurei 3 Residence, ensuring that the remaining works are funded with 8-million-euro cash on hand. This transaction highlights the strong appeal of the local market for international capital. We appreciate the efficient and collaborative approach of CVI, whose expertise and professionalism played a key role in executing this transaction smoothly," said Michael Topolinski III, Founder and CEO of InteRo Property Development.

”We are confident in the Romanian real estate market and its long-term potential within the CEE region. Romania continues to present attractive investment opportunities, driven by a dynamic market that prioritizes quality developments. InteRo’s commitment to delivering value through modern real estate projects aligns with our investment philosophy, fostering sustainable growth for its partners”, added Jakub Kozłowski from CVI.