Deloitte Romania assisted the Romanian entrepreneurial group Alfa Group in the acquisition of the largest part of the IRIDE Park project, located in the North of the Capital, along with two other properties in the proximity, from CPI Property Group, the Czech group that owns real estate projects in several countries in Central and Eastern Europe. The transaction was signed in October 2024.
IRIDE is one of the largest business parks in Bucharest, located in the Pipera area. In addition to office buildings and logistics spaces, the project includes a parking area, restaurants and cafes, convenience stores, a medical center and a dental clinic.
“A transaction of such magnitude would not have been possible without a team of top consultants working with us. We would like to take this opportunity to thank once again the Deloitte Romania team for their support in the financial analysis of the acquisition of IRIDE Park and for the professionalism they have shown during the project,” said Mihai Macelaru, CEO, Alfa Group.
Deloitte Romania assisted Alfa Group in the financial due diligence phase, through a team made of Radu Dumitrescu, Partner-in-Charge, Vlad Balan, Director, Sorin Rugina, Manager, Sorin Vinatoru, Senior Associate, Robert Doroftei, Senior Associate, and Andreea Dobrota, Associate, from the Financial Advisory practice.
“Ever since they entered the real estate market in 2007, Alfa Group has constantly expanded its portfolio, both in the office and the residential segments. This acquisition, to which we are glad to have been able to contribute, marks another important step in the group’s development path. The transaction turned out to be complex, involving the partial sale (carve-out) of the IRIDE portfolio, excluding assets such as Iride eighteen, myhive | Iride nineteen or myhive Metroffice, but aligned with CPI Property Group’s recent strategy to optimize the current portfolio of properties held in Central and Eastern Europe,” said Radu Dumitrescu, Financial Advisory Partner-in-Charge, Deloitte Romania.
Alfa Group is a Romanian family business that operates in various sectors, such as oil and gas, through Oscar Downstream distribution company, in insurance, through Onix Asigurari, in private equity, through ROCA Investments, and in real estate, through Akcent Development Group, which owns the office buildings Oscar One, Maria Rosetti Tower, Eminescu Offices and Mendeleev Office 5, as well as the residential projects Cloud9, 19th Residence, 20th Residence and 21st Residence, phases 1 and 2.
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