VR Business Capital has completed the sale of the Belvedere Park building with a surface of approximately 3400 sqm

The investment fund VR Business Capital, specialized in financial services, has announced the sale of the Belvedere Park office building situated in the 3rd district of the capital city.

Located near the Ior park, in the Baba Novac area, the property totals 3400 sqm and was finalized in 2010. Being the most important and modern building in the area at that time, it represented a development landmark for outstanding projects from eastern Bucharest. It can be easily divided in two sections, the commercial space consisting of the ground floor and mezzanine, followed by 12 floors intended for office activities.

Being designed as a space with a high status, above the average of similar projects, Belvedere Park ensures comfort and modern design, with generous spaces, functionally organized and aligned with current trends.

With easy access to subway and STB stations, coffee shops and restaurants, educational institutions, banks, shops, pharmacies and hospitals, the space favors the possibility of developing a wide range of services and projects with multiple uses.

The asset was owned and managed by VR Business Capital, who made the purchase in 2021. The sale was completed in January 2023 after a complex negotiation process.

"It is an important transaction for us due to the unique characteristics of the construction, highlighted by the high standards of quality, administration and management, a fact that attracted customers from various areas of business. Even from financial perspective, it represents a significant step forward for our company, in the context of the objectives we have set in the short and medium term. After a period of stagnation of the office buildings market caused by the events of the past 3 years, we believe that currently the trend is upward and these types of investments will continue to be in high demand. Our strategy supports the identification of new opportunities and is based on the vast experience of the entire team, which also made this sale possible." stated Robert Machidon, co-founder and managing partner of VR Business Capital.

VR Business Capital was established in 2020 and focuses on transactions in different fields such as Real Estate, NPL and Private Equity. The attention is on projects of different sizes and shapes: Distressed, Unfinished or Green Field, with very good locations.

With over 10 years of experience in the financial sector, dedicated to leadership positions, the founders Victor Angelescu and Robert Machidon coordinate the team of specialists with professionalism and devotedness, developing a business with significant annual organic growth.

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