The company's involvement in the project began in December 2021 through a real estate development partnership with Novarion. The total investment amounted to approximately €2.84 million, with €200,000 partially repaid in 2024. The deal generated an internal rate of return (IRR) of 20%.
The Lake Home project, located in the western part of Sibiu, is a large-scale residential development spanning 53,000 sqm. The complex is planned to include 494 apartments, 34 premium villas, restaurants, an aparthotel, a gym with a spa and swimming pool, and educational facilities. Currently, the project is 21% completed, with final delivery slated for 2030.
Alexandru Bonea, Managing Director of Meta Estate Trust, said the investment in Novarion represented one of Meta Estate Trust's largest exposures.
This successful exit aligns with Meta Estate Trust's investment strategy within its Co-Development business line, which focuses on allocating equity capital for real estate development projects to achieve maximum returns.
