Thursday, September 20, 2007

Lewis Charles Romania property fund buys 50 pct of SC Gold for 13 mln eur

LONDON (Thomson Financial) - Lewis Charles Romania Property Fund Ltd said it has bought 50 pct of SC Gold SPV SRL for 13 mln eur, which owns a 55,700 square meters site at Mogosoaia, Bucharest.

The company said the project is a 50-50 joint venture with Alchemy Development Management that will be phased over a time period of four years and is expected to commence in early 2008.

In a separate report today, the company said it has also bought 99,000 square metres of land at Ploesti in Romania for 13.6 mln eur. It further added that it is in discussions with a number of potential anchor tenants for the project and construction is expected to start in March 2008.

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