The M Core Group, a UK-based collective of property investment and management companies, has acquired a strip-mall portfolio in Romania from MAS P.L.C. for a reported EUR 49 million.
The CMS law firm advised the M Core Group on the deal, as well as on the acquisition financing.
The portfolio includes seven properties, located in Slobozia, Focsani, Ramnicu Sarat, Targu Secuiesc, Sebes, Fagaras and Gheorgheni, with a total gross leasable area of approximately 32,000 square meters. National and international tenants include JYSK, Pepco, C&A, CCC, Deichmann, Sinsay, Altex, KFC, McDonald’s.
MAS P.L.C. is a Johannesburg Stock Exchange-listed investor and operator with a secondary listing on A2X Limited. It operates with a team of 270 professionals across investment, acquisition, leasing, asset management, and finance. The company also collaborates with Prime Kapital in a development joint venture.
M Core Group, a collective of property investment and management companies, operates in the UK, France, Poland, Romania, Germany, and Spain, with a portfolio exceeding GBP 6 billion. Key members include LCP, Sheet Anchor, Proudreed, Evolve, and Square 7 as a local partner in Romania.
CMS Partner and Head of Real Estate & Construction at CMS Romania, Roxana Fratila, said: “We are delighted to have advised M Core on yet another significant acquisition in the country. With this transaction, CMS reconfirms its position as the go-to retail law firm on the market. We were able to combine our retail sector expertise with our strong connection with M Core to close this deal successfully.”
Image source: www.masrei.com