Israeli billionaire Teddy Sagi sells Polonă 68 building to Star Residence Invest

Israeli billionaire Teddy Sagi is selling one of the office buildings he owns in Bucharest. Star Invest Residence will buy the Polonă 68 building for 19 million euros.
The office building has five floors, a leasable area of 9,500 square meters, and the agreed purchase price is EUR 19 million with an estimated yield of 11%, according to the announcement.

The Polonă 68 office building was built in 2009 by Greek businessman Gkotsis Anastasios, an investment of EUR 15 million. Later, in 2017, the building was bought by Topmost Invetments, a company owned by Israeli billionaire Teddy Sagi, for the sum of EUR 17 million.

Source: economica.net