French Village: Țuca Zbârcea & Asociații closes EUR 68 million acquisition transaction
Țuca Zbârcea & Asociații assisted the Greek real estate developer, Raptis Kavouras, in the acquisition of more than a half of the French Village from the Romanian businessman Costica Constanda. The transaction value amounts to EUR 68 million.
"It is one of the largest real estate transactions that took place in Bucharest since the beginning of this year, especially at a time when the echoes of the subprime crisis are still heard. As such, a deal worth EUR 68 million involving 1,6 hectares of plot of land is obviously a very interesting one”, said Dan Borbely, Partner with Țuca Zbârcea & Asociații and Co-head of the real estate practice group.
The French Village, a well-known residential complex, is spread over 28,500 sqm and represents an exclusive leafy suburban zone in Bucharest’s north.
Țuca Zbârcea & Asociații has one of the largest real estate practice groups in the country, with over 20 lawyers and 4 real estate partners. The firm has a strong presence on big-ticket real estate transactions and was recently recognized as the most active transactional law firm in the market