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Oct 13, 2022 16:09 EEST
October 13 (SeeNews) - NEPI Rockcastle, a property investment and development group incorporated in the Isle of Man, acquired the 50% stake held by French retailer Carrefour in Ploiesti Shopping City for an undisclosed sum, deal advisor Reff and Associates announced.
Following the deal, NEPI became the sole owner of the shopping centre located in the southern part of the country, Reff and Associates, a member of Deloitte Legal, said in a press release on Wednesday.
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Ploiesti Shopping City opened in 2012 following a 65 million euro ($63.2 million) joint investment from Carrefour and NEPI, according to information posted on its social media page. The retail centre features a 55,000 sq m leasable area.
According to information included in NEPI's 2021 annual financial report, Ploiesti Shopping City is valuated at 53.6 million euro as of end-2021, with a 4.1 million euro rent income and a 98.1% occupancy rate.
NEPI Rockcastle owns and operates shopping centres in nine Central and Eastern European countries, summing up a 5.8 billion euro portfolio as of December 31 2021. Its shares are listed on the Johannesburg Stock Exchange, Euronext Amsterdam and A2X.
($= 1.0276 euro)
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