Cushman & Wakefield Echinox assisted MAS PLC, a leading property investor and operator in Central and Eastern Europe (CEE), in the sale process of the strip malls portfolio in Romania to M Core Group.
The portfolio consists of 7 assets with a total GLA of approximately 32,000 sq. m located in Slobozia, Focsani, Ramnicu Sarat, Targu Secuiesc, Sebes, Fagaras and Gheorgheni. The properties are positioned in densely populated areas next to Kaufland stores, have an occupancy rate of 100% and feature a mix of national and international tenants, such as JYSK, Pepco, C&A, CCC, Deichmann, Sinsay, Altex, KFC, McDonald’s, etc.
Cushman & Wakefield Echinox provided strategic advisory services and transaction support, the project being coordinated by Cristi Moga, Head of Capital Markets, and Bogdan Marcu, Partner, Capital Markets. M Core Group was assisted during the process by CMS Cameron McKenna, Deloitte and IO Partners.
Cristi Moga, Head of Capital Markets, Cushman & Wakefield Echinox: “This transaction reconfirms the recovery trend of Romania’s investment market, with retail sector being acknowledged as a healthy and secure asset class. The quality of the portfolio was consequential for the transaction, while the professionalism of the parties involved significantly eased the process.”
Bogdan Marcu, Partner, Capital Markets, Cushman & Wakefield Echinox: “As the macroeconomic environment and consumers’ behaviour stabilizes, we are entering a new economic cycle. This shift has sparked heightened interest in Romania from both current investors seeking to expand their portfolios and newcomers. With its youthful market landscape, Romania presents considerable growth potential across all sectors. This recent transaction serves as a strong indicator of the retail market’s resilience, increased liquidity, and the overall positive sentiment among investors.”
MAS P.L.C. is a property investor and operator listed on the main board of the Johannesburg Stock Exchange and with a secondary listing on A2X Limited. The Group is operated by a multidisciplinary team of approximately 270 professionals with investment, acquisition, leasing, asset and property management, marketing and finance skills. MAS aims to maximise total long-term shareholder returns via its investments in directly owned income property and other income-producing investments in CEE and indirectly, on a downside-protected basis, in developments via preferred equity in a development joint venture with co-investor, developer and general contractor Prime Kapital.
M Core is an established, highly profitable collective of property investment and management companies operating in the United Kingdom, France, Poland, Romania, Germany and Spain. M Core’s portfolio value exceeds 6bn pounds. The key members include LCP, Sheet Anchor, Proudreed, Evolve and Square 7 as local partner for Romanian portfolio.