Romanian developer Iulius has struck a joint venture deal with W&E Assets, a Romanian-American investment group through which they will hold equal shares of 50% in the two Family Market retail projects completed in Iași County.
W&E Assets has recently entered the Romanian market and plans to expand in Europe, with a focus on key investments in retail, energy and other industries.
“It is part of our strategy to contribute to the attractiveness of the Romanian market, enrolling new investors with the same appetite for sustainable and non-speculative investments. We are confident about the new partnership, and we will certainly continue to do what we do best, that is contributing to the development of Romanian cities,” said Iulian Dascălu, Iulius’ President.
W&E Assets is an investment partnership established by Cocanougher Family Office, with operations in the United States of America, and Iași-born tech entrepreneur Ilie Ghiciuc. Cocanougher Family Office invests in diverse industries, predominantly in Texas, USA, ranging from commercial and residential real estate developments, agricultural and resort operations, to industrial pipeline construction, mineral resource royalties, technology and stock market investments. The Romanian part of W&E Asset is represented by Ilie Ghiciuc, Iasi-native entrepreneur and founder of Thinslices, established more than 10 years ago, currently operating in Iași, Berlin, Lisbon and London.
“I have been coming to Iași regularly for almost 10 years, after deciding to build our technologies with a local software company. I was always excited about the potential of Iași, considering its position in the region, as well as the development throughout this period,” added Daniel Cocanougher, CEO of the Cocanougher Family Office – Dallas, Texas, United States.
Both retail projects with a leasable area of 6,000 sqm each were completed last year following an investment of around €24 million. As part of the joint-venture agreement, Iuliuus will continue to act as property manager for these projects.
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