The Liberty Center shopping mall in Bucharest's Rahova district has been sold at auction for EUR 60 million. The mall sold for the auction starting price to Rosequeens Properties, a company registered in Cyprus.

The previous owner Northern Irish company Mivan owed EUR 61 million to its creditors EFG Eurobank, Alpha Bank and Bank of Cyprus.

After an investment of EUR 70 million, the 70,592 sqm shopping center opened in November 2008 with all available lots leased. Later the mall lost tenants, such as Starbucks, Diverta, Marks & Spencer, Forever 18 or Burger King.

editor@romania-insider.com

(photo source: Liberty Center)