Zizin Residence

Bucharest, Romania

Type of Project: Residential

SECURE Management, Asset Manager
Investor: SPDI (listed on LSE:AIM)

Zizin Residence (32 apartments and ground floor commercial areas) was taken over by SPDI with the help of SEC Mgmt from a Romanian subsidiary of a Greek bank following bankruptcy of the developer in an almost completed stage
Located in a neighborhood of increasing property value growth in Bucharest influenced by the presence of Bucharest’s first shopping mall, Vitan Mall
After taking it over from the bank, SEC Mgmt set up a business plan for SPDI and assisted in its implementation which included finalizing the property development, marketing and selling all units by Q3 2020
SEC Mgmt actions ensured that the construction loan was repaid in full to the lending bank (by June 2020) and the equity holder benefited from substantial return on capital invested