November 19 (SeeNews) - Austrian property developer Supernova has acquired Jupiter City Shopping Mall in Romania's Pitesti from local operator Mall Retail Rom owned by Israel's Jupiter Group, the legal advisor to Supernova said on Thursday.
The acquisition was financed from own funds and through financing from Austria's Erste Bank AG, legal advisor bpv Grigorescu Stefanica said in a press release.
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The value of the deal was not disclosed but local media estimate the market value of Jupiter City Shopping Mall at some 20 million euro ($23.7 million).
"As we are following a growth path in retail sector we are looking forward to the next transactions," Supernova head of mergers and acquisitions Johannes Wurzer said.
Opened in 2008, Jupiter City Shopping Center is the largest shopping center in Arges county, with a total area of 55,000 sq m, according to data published on its website.
Headquartered in Graz, Supernova is a private real estate company with a buy-and-hold investment strategy focused on high quality retail properties in Central and Eastern Europe, with a portfolio divided into single-tenant properties and multi-tenant properties such as shopping centers and retail parks.
($=0.8421 euro)