AIM-listed European Convergence Property Company (ECPC) said on Thursday that the sale of its office portfolio in Bucharest to German property fund Degi for EUR 111 mln is nearing completion. ECPC said it would soon receive the majority of the proceeds and was 'working with its advisors to secure the most suitable mechanism for returning these monies, along with any un-invested cash, to its shareholders'.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
