South-African group New Europe Property Investments (NEPI), one of the largest investors in the Romanian real estate market, has finalized the merger with its competitor Rockcastle Global Real Estate.

The transaction creates the largest player in the real estate market in Central and Eastern Europe (CEE) with a market value of about EUR 6.1 billion.

Their activities merged into a new company registered in the Isle of Man, called NEPI - Rockcastle. According to the agreement, both NEPI and Rockcastle transferred all of their own assets and liabilities, including equity interests in the two funds’ subsidiaries.

The Rockcastle shareholders will gain exposure to the largest real estate portfolio in Romania, which is the second largest real estate market in the region, according to the company. The NEPI portfolio in Romania includes shopping centers such as Mega Mall, Promenada Mall, Vulcan Value Center, Timisoara Shopping City, CityPark Constanta, Ploiesti Shopping City, Braila Mall or Galati Shopping City, as well as office buildings such as Floreasca Business Park, The LakeView in Bucharest, City Business Centre in Timisoara or The Office in Cluj.

editor@romania-insider.com