Czech-based CPI Property Group has agreed to acquire 11 shopping centers and other retail businesses from two funds managed by CBRE Global Investors in the Czech Republic, Hungary, Poland and Romania, the company announced on Tuesday.
The transaction will be completed in the first quarter of this year.
As regards the local market, the company will buy Felicia Mall in Iasi.
A CPI spokesman declined to comment on the value of the deal, but Czech media estimated it at around EUR 650 million.
Last year, CBRE took over the management of Immofinanz’s four shopping malls in Romania, including Felicia Mall in Iasi.
Shopping Center was opened in October 2007 in Iasi, offering 29,000 sqm of GLA. The tenant mix includes Marks & Spencer, Sephora, Deichmann, Orsay, Nissa, Intersport, Media Galaxy, Takko, DM Drogerie and Pepco.