Biriș Goran advises CPI Romania in the partial sale of IRIDE Business Park
Bucharest, 19th of June 2025
Biriș Goran successfully represented CPI Romania (part of CPI Property Group), in the sale of a portfolio comprising most of the IRIDE Park project, related logistics and two neighbouring properties with potential for further development, to ALFA Group (through Iride Development), the company under which Alin Niculae (founder of the independent diesel distributor Oscar Downstream) grouped his business. The transaction is valued at approximately €55 million and is one of the most important on the local real estate market in 2025, both in terms of scale and volume, and involved a total area of over 60,000 sqm of office and warehouse space, distributed in over 17 buildings, as well as related land of over 12.5 hectares, located in the Dimitrie Pompeiu area in the north of the capital.
„We are finalizing today, by signing the transaction with ALFA GROUP, a key step in the optimization strategy of the CPI Romania portfolio. I am pleased to have successfully concluded a complex transaction. The IRIDE project has proven its value and will remain a landmark on the local real estate market also in the new configuration in which CPI Romania retains 3 buildings. We remain focused on investments to increase the value and maintain the relevance of our projects with long term potential, in order to strengthen our leading position on the local real estate market“, says Fulga Dinu, Country Manager CPI Romania.
The two parties signed a preliminary agreement in October 2024. Under the terms of the transaction, the buildings IRIDE eighteen, myhive IRIDE | nineteen and myhive IRIDE | twenty will remain the property of CPI Romania. The transaction was supported by law firm Biriș Goran, on behalf of CPI Romania, and Peli Partners, on behalf of ALFA GROUP.
Biriș Goran’s transaction team was coordinated by Sorin Aungurenci (Partner, Real Estate) and included Radu Jianu (Senior Associate, Real Estate), Simina Cîrstescu (Associate, Real Estate), Ruxandra Jianu (Partner, Tax), Sorin Biban (Partner, Tax), Teodora Moțatu (Partner, Corporate/M&A) and Kira Bujduveanu (Senior Associate, Corporate/M&A).
“Representing CPI Romania in this transaction is a testament to our firm’s strong commitment to quality work and the confidence our clients have in our experience and expertise in real estate and M&A transactions, marking the conclusion of a complex process that took almost 12 months, during which we faced many challenges – from legal and tax issues, to managing the transfer of the operational activities from the park, as well as technical matters. We are proud to have made this important transaction possible, which underlines our excellent collaboration with CPI Romania and highlights the ease with which we manage complex legal matters“, says Sorin Aungurenci, Real Estate Partner with Biriș Goran.
CPI Property Group Romania is part of the CPI Property Group, one of the largest owners of income-generating real estate in Europe. CPIPG owns the leading office platforms in key Central European capital cities of Berlin, Prague and Warsaw, as well as retail properties in the Czech Republic and Central Europe, along with hotels, residential units and land.
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