Polish real estate developer Globe Trade Centre (GTC), whose main shareholder is US private equity firm Lone Star, is currently analyzing purchase offers received for some of its malls in Romania, including the Galleria units in Arad and Piatra Neamt.

The company is also ready to sell FeliCity residential complex in Baneasa, Northern Bucharest, to UniCredit, in order to pay off debt, reports local Capital.ro.

GTC’s board has warned its shareholders that the real estate assets the company manages in Central and Eastern Europe have lost some EUR 132 million of their value in the last quarter of 2014. The drop is attributed to properties located in secondary cities in Romania, Croatia and Bulgaria, and on the land portfolio in Budapest.

Irina Popescu, irina.popescu@romania-insider.com