Austrian group Supernova, which entered the Romanian real estate market last autumn and will develop its first project in Sibiu, reached an agreement to take over the Jupiter City shopping center in Pitesti from its Israeli owner, Doron Ofer.

The deal's value hasn't been disclosed, but the transaction was said to be "distressed" by sources familiar with the negotiations.

The shopping center has a Carrefour hypermarket and a commercial gallery, while Decathlon operates a store in a separate building. The third building has been vacant since Praktiker closed the store there a couple of years ago.

The shopping center has an area of ​​over 45,000 sqm, 1,700 parking spaces, and 90 stores.

"We believe that Jupiter City Shopping Center, as well as the whole Romanian market, has much potential for growing our brand. For the next period, we plan to improve the existing offering and expand the center. We are focused on developing this market," said Markus Pinggera, Managing Director at Supernova, according to Ziarul Financiar.

The Supernova Group focuses on developing and managing commercial properties in Central and Eastern Europe and Western Europe. In addition to the Romanian market, the company is also active in Austria, Slovakia, Slovenia, and Croatia. Its portfolio includes 77 properties, with a cumulative value of EUR 1.5 bln.

andrei@romania-insider.com

(Photo source: Facebook/Jupiter City Pitesti)