CEC Bank backs expansion of Fashion House outlet centre in eastern Bucharest with EUR 8 mln financing

State-owned CEC Bank said on January 9 that it granted new financing of EUR 8 million to Cerinvest Imobiliare SRL, the developer of Fashion House Outlet Pallady - a major shopping centre in eastern Bucharest. The second phase of the project is set to bring 5,700 sqm of extra commercial spaces.

The first phase of Fashion House Outlet Pallady was completed in 2021 with a leasable area of approximately 7,600 sqm. The list of tenants includes brands such as Numero Uno, Sizeer, Cavaliere, KVL, Lee Cooper, US Polo, Sport Vision, Otter, Puma, Nike, Levi's, BSB, Tom Tailor, English Home, Ted's, Triumph, and Ecco.

Cerinvest Imobiliare SRL is part of the Liebrecht & Wood group, one of the most important players in the segment of retail parks and outlet centres in Central and Eastern Europe. Liebrecht & WooD entered the local market in 2001 and completed four projects: Militari Shopping Center, Victoria Office Park, West Park Retail, and Fashion House Outlet Pallady.

PCF Investment Banking acted as the exclusive financial advisor to the Liebrecht & Wood fund in the structuring, negotiation and implementation of the transaction.

(Photo source: Fashion House)