City Mall in Bucharest, on sale for the fourth time, 30% down from initial price
City Mall shopping center in Bucharest, which went bankrupt last year, will be put again for auction on June 10, for a price of EUR 23.5 million, almost 30 percent below the initial level of EUR 33 million. This is the fourth attempt to…
Romania Insider · Journalist
· Updated · 1 min read
City Mall shopping center in Bucharest, which went bankrupt last year, will be put again for auction on June 10, for a price of EUR 23.5 million, almost 30 percent below the initial level of EUR 33 million. This is the fourth attempt to sell the mall. Documents to sign up for the bidding should be filed by June 8. The mall's judiciary liquidator is Casa de Insolventa Transilvania. The shopping center was on sale for the first time on March 31, at a price of EUR 33 million, and then, because no investor was interested in buying it, two other auctions were organized, so the price was reduced to EUR 29.5 million and to EUR 26.2 million respectively. City Mall went bankrupt last year after the mall owners, APN European Retail were unable to repay a loan of over EUR 30 million to UniCredit, while the operating income decreased by 90 percent last year. City Mall has a built area of 31,000 sqm divided into three basements, ground and three floors. The commercial area has 14,348 sqm. Irina Popescu, irina.popescu@romania-insider.com
