NEPi Rockcastle, the biggest mall owner in Romania, paid EUR 21 million for the Festival Sibiu mall project.
The investment fund bought the project from local developer Primavera Development, owned by the Tanasoiu family. Reff&Asociatii provided legal assistance for NEPI in signing this deal.
Primavera Development announced in 2016 that it would resume its investment in the Festival mall, located on the former Simerom industrial platform, close to Sibiu’s center. The investment in this project is estimated at EUR 70 million. The mall will have a gross leasable area of 43,000 sqm and should open at the end of 2019.
NEPI also owns the Sibiu Shopping City mall, which it bought in 2016 for EUR 100 million.
(photo source: Primavera-development.ro)