NEPI Rockcastle confirms sale of RO office portfolio for EUR 307 mln
The biggest shopping mall owner in Romania, NEPI Rockcastle, confirmed that the negotiations with Israeli group AFI Europe for the disposal of the Class A office buildings in Romania ended successfully.
Romania Insider · Journalist
· Updated · 1 min read
The biggest shopping mall owner in Romania, NEPI Rockcastle, confirmed that the negotiations with Israeli group AFI Europe for the disposal of the Class A office buildings in Romania ended successfully.
The portfolio includes the Floreasca Business Park, Lakeview, and Aviatorilor 8 buildings in Bucharest and City Business Center in Timisoara, with a total leasable area of 118,500 square meters.
The total transaction value amounts to EUR 307 million with a cash price of EUR 290 million after specific adjustments, the company said.
The transaction between NEPI Rockcastle and AFI Europe was agreed at the end of 2019. The COVID-19 pandemic delayed the deal and caused some tension between the two sides.
The transaction was assisted by Herbert Smith Freehils on issues related to English law, while Reff & Associates and Deloitte Legal provided advice on legal issues in Romania. Colliers International was the seller's consultant and offered additional support to NEPI Rockcastle and its subsidiaries.
(Photo source: Nepirockcastle.com)
