Benevo Capital acquires the former Vulcan Factory Site
Benevo Capital is pleased to announce its most recent acquisition in Bucharest. Benevo Capital has purchased 77,000 square meters of land (former Vulcan Factory) for the purpose of developing a retail park to be named “Benevo Retail Park”.
“We are very excited to develop this modern retail park in the Central/ South part of Bucharest which is high density and underserviced. The Vulcan site stood out due to its size, location and access.” stated Michael Topolinski, CEO of Benevo Capital.
The project site of 77,000 square meters benefits from excellent accessibility both by car and public transportation with frontage on Progresului and Sebastian Boulevards. Public transport is available through 5 bus lines and 4 tram lines that have their stations about 100 meters from the site. Car access is ensured via two traffic lights intersections.
Benevo Retail Park will be one of the most central retail parks in Bucharest, and features more than 35,000 square meters of retail. The project will include a large DIY, a hypermarket of 10,500 meters and a galleria of about 10,000 meters.
Benevo Capital, through a group of companies in Romania, has invested in retail and residential property since 2007.
The Group`s investments include the largest portfolio of residential apartments in Romania and Benevo Capital is a joint venture partner in the Victoria City Shopping Center scheduled to go into construction in 2012.
Benevo Capital`s residential division has purchased bulk apartments as recently as November 2011 with many acquisitions currently under negotiation. The residential development division intends to acquire several land sites in 2012 for development purposes.
The Victoria City Shopping Center is a 56,000 square meter gross lettable area shopping center located on Bucurestii Noi Boulevard, Bucharest. The project benefits from excellent accessibility both by car and public transportation, including a metro stop directly in front of the site.
Benevo Capital was founded by Michael Topolinski. As an international investor, Michael Topolinski has substantial holdings in private companies in North America and Europe. Since 2007, Benevo Capital`s head office has been in Bucharest, Romania. Benevo Capital is focused on opportunistic real estate development and investment in CEE.