Unusual increase in value assets may indicate positive changes in East Europe economy

April 8, 2015 - PRLog -- An office building in the financial district of Bucharest, Romania has been sold after having been owned for eight years.

The property measuring 108,016 square feet was purchased for 4.4 million Euros in 2007 by a group of European investors related to Neuberger Berman, a sister company of Lehman Brothers Investment.

Following the purchase, an additional 1.2 million Euros were invested in the property, mainly renovating the electrical and plumbing systems.

Eliran Bar who initiated the transaction and managed the investment, reported an average annual revenue of 11.3%, from the time of acquisition until its sale.

Recently, a group of entrepreneurs from Great Britain bought the property for 10,350,000 Euros, which translates into a value increase of 200%, apart from the yearly revenue.

Mr. Bar explains that the real estate market in Romania is developing very slowly and it is still difficult to see signs of recovery after the global crisis of 2008.  The value of this transaction could be considered a success and indicative of positive changes that are happening within the Romanian economy.