Greek toy retailer buys shopping center in Brasov

Greek toy retailer Jumbo has bought the former macro Mall shopping center in Brasov for about EUR 4 million, according to information in the local media and market sources cited by local Ziarul Financiar. The mall, which was inaugurated in early 2015, has a leasable area of about 8,000 sqm. In 2006, investors Alios Wagner and Gerard Heinen sold the mall to British investment fund Carpathian for some EUR 19 million. In 2011, the mall had a vacancy rate of 30% and was valued at about EUR 2.5 million, according to the fund’s reports. It was closed in 2012. Jumbo, one of the biggest toy retailers in Romania, aims to reach a network of 25 stores in the country by 2022. The Greek company currently has 10 stores. editor@romania-insider.com