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18.02.2011 14:53
Another mall for sale in Romania
The trade center City Mall in Bucharest is for sale at a price 70% lower than its former purchase price

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The trade center City Mall in Bucharest which went bankrupt last year was given for sale by the liquidator Casa de Insolventa Transilvania for a price of 33 million euro. This is about three times lower than the price which the Austrian investment fund APN UKA paid for the acquisition of the mall. The current owner of the trade center, Victoria Holding has to cope with 73 million euro liabilities. 
Different sources announced that a number of investment funds and retail companies are interested in the bid for the trade center. The management of the retail facility with a gross area of 38 thousand square meters and 19 thousand sq. meters retail area was recently taken by Coldwell Banker Affiliates, which has to improve the operational effectiveness of the mall. 
The sale comes short after in January the investment fund East Balkan Properties (the former Equest Balkan Properties) sold for 5 euro its 51% share in Bolkan Properties Cooperatief, which owns the trade center Vitantis and Rivium Galeria Mall.

TAGS: City Mall | Bucharest | Romania | for sale | Casa de Insolventa Transilvania | APN UKA | Victoria Holding | East Balkan Properties | Bolkan Properties Cooperatief | Vitantis | Rivium Galeria Mall 

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