CPI Property Group will acquire eleven retail properties, including six major regional shopping centers, in Romania, the Czech Republic, Hungary and Poland. Dentons advised CPI Property Group on the acquisition of a portfolio of 11 retail properties from CBRE Global Investors. The completion of the transaction is expected in the first quarter of 2017, pending regulatory approvals in the Czech Republic and Hungary....more »

Biriş Goran assisted AdamAmerica Europe on the acquisition of Construdava, a 9,400 sqm office building located on Pipera-Tunari Road, in the North-East of Bucharest. The building is fully leased by Metro Systems, internal IT provider of Metro Group in Bucharest, Romania.  Biris Goran advised AdamAmerica on all aspects of the purchase from the building's owners, Commerzbank AG and Aberdeen Asset Management.  The team was spearheaded by Victor Constantinescu, Daniela Lazea, Mariana Signeanu and Radu Jianu on the acquisition documents, along with other members of Biriş Goran on due diligence....more »

PeliFilip advised Anchor, the real estate and development group, with respect to the merger of the Romanian group companies owning and operating București Mall and Plaza Mall. The process was designed as a merger through absorption, under which the entire patrimony of the Plaza Mall shopping centre was transferred to București Mall. The preliminary steps of the merger were initiated in March 2016, with the merger becoming effective in October 2016.  ...more »

Casa de Insolvenţă Transilvania, in charge with the bankruptcy of Swan Property, announced the sale of insolvent office park Swan Office & Technology Park to Smartown Investments for EUR30.3 million, a price higher with 50 percent than the price approved by creditors. CITR declared it has promoted the office project to more than 150 investors in Romania and abroad, as well as to the clients in the company’s portfolio. ...more »

Law firm PeliFilip assisted Argo Group in the sale of retail park Shopping City Sibiu to NEPI, a 100 million euro transaction , which sets it as one of the reference real estate transactions in Romania in 2016. PeliFilip legal team involved in the transaction was coordinated by Oana Bădărău and included them on Gianina Gavanescu and Mihaela Ispas, Senior Associates. ...more »

Veranda shopping center, located in the Obor area in Bucharest, attracted funding of EUR 25.5 million from Raiffeisen Bank SA and Raiffeisen Bank International AG, that will be used fort the project development.  In this transaction, Veranda ...more »

A company member of Inter IKEA Property Division, Vastint Romania was assisted by law firm Biris Goran in a 48-hectare land acquisition in the Gheorghe Ionescu-Sisesti road area of Sector 1, Bucharest.Vastint intends to develop the site into a mi...more »

The French group has acquired a 12,000 sqm space in the ParkLake shopping center where will open a new hypermarket, becoming co-owner of the retail project developed by Sonae Sierra and Caelum Development, states a press release. The amount of this transaction has not been disclosed yet, however, investments in the shopping center whose inauguration is scheduled for 2016 amount to 180 million euro. ParkLake will be located in Bucharest’s District 3, the Titan area, and will have a gross leasable area (GLA) of nearly 70,000 sqm. ...more »

Last years’ Cinderella, the real estate sector, changed the shabby clothes in 2013 and promises to turn into a princess courted by investors. It will not be as charming and attractive as in the period of economic boom when it was rather a chimera, but instead, it will be real and thus, speculative investment will no longer arise.   The unexpected GDP growth last year has favorably influenced a sector which was strongly troubled by the recession, and reawakened investors’ appetite for the Romanian market which has been left aside in the post-crisis period....more »