Meta Estate Trust invests EUR 2 mln in 10% acquisition of Redport Capital

Real estate holding company Meta Estate Trust is investing EUR 2 million in Redport Capital's future residential projects after a 37 percent exit.

Meta Estate Trust has sold its 40 percent stake in Redport Properties, the developer of The Level Apartments project. The company received more than EUR 2.7 million from the closing of the transaction and has achieved a 37 percent return after an initial investment of EUR 2 million, according to the stock exchange announcement.

MET decided to invest EUR 2 million in the acquisition of 10 percent of Redport Capital, which owns land in the Dămăroaia - Străulești area and where it plans to build 1,600 apartments and commercial spaces over the next seven years.

Source: Economica.net