NEPI fund raises EUR 40 mln for new investments in Romania

South African investment fund New Europe Property Investments (NEPI- symbol NEP), the first real estate investment fund listed on the Bucharest Stock Exchange (BVB) from June 20 this year, it is in the process of raising EUR 40 million in underwritten rights issue. "Funds raised will be used for further acquisitions and investments in Romania," said Martin Slabbert, CEO of NEPI. The group has been present on the Romanian market since 2007, and the South-African investment group’s portfolio in Romania includes 27 properties. The most recent investments of the group are Floreasca Business Park, in December 2010, the remaining part of the Auchan Shopping Center in Pitesti, in May 2011, an extension of Promenada Mall Braila, in April 2011, the completion of a refurbishment of an office building in Brasov in June 2011, and the acquisition of retail development land in Ploiesti and Brasov in the first quarter of 2011. Irina Popescu, irina.popescu@romania-insider.com (photo source: Sxc.hu)