Big CEE, a subsidiary of Big Shopping Centers, has purchased the Promenada shopping mall in Novi Sad from Nepi Rockcastle for EUR 177 million, in what is reported to be Serbia´s largest retail transaction ever.
As part of the transaction structure, EUR 105 million will be financed through a loan from leading European banks.
The Promenada mall has a gross leasable area of 49,200 square meters and is fully occupied, with an annual footfall of 10 million. Among the mall’s tenants are brands such as ZARA, Nike, Adidas, Tommy Hilfiger, Calvin Klein, Hugo Boss, NewYorker, Sephora, Pandora, Replay, a concept store by Ikea, and LPP group brands. The mall also includes a large supermarket, cinema, and an entertainment and dining complex.
Image source: property-forum.eu