June 15 (SeeNews) - Bucharest-listed real estate investment trust (REIT) New Europe Property Investments (NEPI) said on Tuesday that it has entered into a binding agreement to sell Serbian retail properties Kragujevac Plaza and Krusevac Shopping Park to Amsterdam-based CEE BIG.
The aggregate consideration for the Serbian properties is 60.8 million euro ($73.8 million) and is payable at the completion date of the transaction, NEPI said in a statement.
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The disposal is consistent with NEPI's investment strategy to focus on core dominant properties and increase its presence in countries with investment grade rating, the REIT said.
The sale of the retail properties, which had an aggregate book value of 58.3 million euro on December 31, 2021, is subject to the unconditional approval of the Serbian Competition Council.
Following the disposal, NEPI Rockcastle will retain one core property in Serbia, Promenada Novi Sad.
($ = 0.824227 euro)
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