Pitesti shopping centre picked up for 21 million Euro
April 2010 - From the Print Edition
PITESTI Property investments company New Europe Property Investments (NEPI) has bought Iris Shopping Center Pitesti (Arges county), from domestic developer Avrig 35, for 21 million Euro. This is the biggest transaction on the Romanian real estate market this year.
NEPI will acquire first a 23,100 sqm space inside the retail project rented by French hypermarket Auchan and DIY store Bricostore.
The company will then take over the 7,000 sqm shopping gallery, called Iris Shopping Cente, in 2011.
Last year NEPI bought another retail project, European Retail Park Braila, for 63 million Euro, from Belgian developer Belrom Real Estate.
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