Austrian group Immofinanz, one of the largest real estate investors in the local market, is in the due-diligence process to acquire the Familly Center retail park in Botosani, sources told Economica.net.

The retail park was developed by Oasis Development and Real4You, near the Kaufland store in the city.

Opened in November 2016, following an investment of EUR 7 million and with a rentable area of 6,000 sqm, the park will be affiliated to the STOP.SHOP Immofinanz brand after the acquisition. It will be the first retail park under the STOP.SHOP brand in the local market. The one in Brasov, which was announced last year, will be completed in 2018.

Besides acquiring the retail park in Botosani, Immofinanz will add to its portfolio another eight retail parks in Hungary, Slovakia and Romania, with a lettable area of 74,000 sqm. The transactions will be completed this year.

Retail parks under the STOP.SHOP brand are located in cities with 30,000-150,000 inhabitants and have rentable areas of 8,000-15,000 sqm. Immofinanz owns 16 properties in Romania with a value of EUR 622 million.

editor@romania-insider.com