News Article investment retail retail park Romania shopping Supernova
by Property Forum | Investment

Austrian retail investor Supernova has acquired the Jupiter City shopping centre in the Romanian city of Pitești from local company Mall Retail Rom, owned by Israeli concern Jupiter Group. The value of the transaction hasn't been disclosed, but the transaction was said to be "distressed" with a price estimated to be below €20 million.

The shopping centre has an area of ​​over 45,000 sqm, with 1,700 parking spaces, and 90 stores. Tenants of Jupiter City include Carrefour, Media Galaxy, Decathlon, H&M, Bershka, New Yorker, Pull & Bear, Stradivarius, Sephora, Intersport and Orsay.

Law firm BPV Grigorescu Ştefănică advised Supernova Invest for the due diligence, the contract negotiation for the business transfer and for the financing documentation. According to the firm, the transaction was financed partially from the company's own funds and partially by Erste Bank.