The biggest shopping mall owner in Romania, NEPI Rockcastle, confirmed that the negotiations with Israeli group AFI Europe for the disposal of the Class A office buildings in Romania ended successfully.

The portfolio includes the Floreasca Business Park, Lakeview, and Aviatorilor 8 buildings in Bucharest and City Business Center in Timisoara, with a total leasable area of 118,500 square meters.

The total transaction value amounts to EUR 307 million with a cash price of EUR 290 million after specific adjustments, the company said.

The transaction between NEPI Rockcastle and AFI Europe was agreed at the end of 2019. The COVID-19 pandemic delayed the deal and caused some tension between the two sides.

The transaction was assisted by Herbert Smith Freehils on issues related to English law, while Reff & Associates and Deloitte Legal provided advice on legal issues in Romania. Colliers International was the seller's consultant and offered additional support to NEPI Rockcastle and its subsidiaries.

editor@romania-insider.com

(Photo source: Nepirockcastle.com)