{"id":3121,"date":"2024-12-20T08:01:06","date_gmt":"2024-12-20T08:01:06","guid":{"rendered":"https:\/\/ofero.news\/?p=3121"},"modified":"2024-12-20T08:01:06","modified_gmt":"2024-12-20T08:01:06","slug":"m-core-to-buy-seven-strip-malls-in-romania-from-mas-re-in-eur-49-mln-deal","status":"publish","type":"post","link":"https:\/\/ofero.news\/?p=3121","title":{"rendered":"M Core to buy seven strip malls in Romania from MAS Re in EUR 49 mln deal"},"content":{"rendered":"<p>South African property developer MAS RE has <a target=\"_blank\">entered <\/a>negotiations with M Core to sell seven strip malls in Romania for EUR 49 million, a value 3.1% higher than the EUR 47.5 million appraisal by Colliers Romania.\u00a0<\/p>\n<p>The net cash proceeds are estimated at EUR 43.5 million after working capital adjustments.\u00a0<\/p>\n<p>The strip malls included in the transaction are located in various Romanian cities: Foc\u0219ani: 6,100 sqm, EUR 13.1 million; Slobozia: 6,700 sqm, EUR 10.6 million; R\u00e2mnicu S\u0103rat: 4,000 sqm, EUR 6.6 million, Sebe\u0219: 3,200 sqm, EUR 5.8 million, T\u00e2rgu Secuiesc: 3,200 sqm, EUR 11.12 million, F\u0103g\u0103ra\u0219: 3,200 sqm, EUR 9.97 million, and Gheorgheni: 1,400 sqm, EUR 12.74 million.<\/p>\n<p>MAS RE&#8217;s decision to divest these assets aligns with its strategy to focus on larger retail properties and malls, enhancing liquidity and capital efficiency.<\/p>\n<p>The deal, subject to the approval of Romania&#8217;s Competition Council, is expected to close by March 18, 2025.<\/p>\n<p>MAS RE stated that the proceeds from the sale will be used to reallocate capital towards fulfilling its financial obligations, including bonds maturing in May 2026.<\/p>\n<p>&#8220;This transaction is consistent with our strategic goals of efficient capital allocation and proactive liquidity management,&#8221; the company stated.<\/p>\n<p>M Core, a pan-European real estate group managing assets worth over EUR 7 billion, entered the Romanian market in 2022 by acquiring 25 retail parks from Mitiska REIM for EUR 219 million. This acquisition was conducted via LCP Group, a subsidiary of M Core that manages assets exceeding EUR 3 billion. The group also includes companies such as Evolve Estates, Sheet Anchor, Proudreed, and Square 7.<\/p>\n<p>MAS RE, which owns a portfolio of malls and retail parks across Romania, Bulgaria, and Poland valued at over EUR 1 billion, described the properties being sold as high-performing but no longer central to its strategy of prioritizing larger retail assets. This marks a significant restructuring of its Romanian portfolio while supporting its broader financial commitments.<\/p>\n<p><em>(Photo: <a href=\"https:\/\/www.dreamstime.com\/\" target=\"_blank\">Vlad Ispas\/ Dreamstime<\/a>)<\/em><\/p>\n<p><em>iulian@romania-insider.com<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>South African property developer MAS RE has entered negotiations with M Core to sell seven strip malls in Romania for EUR 49 million, a value 3.1% higher than the EUR 47.5 million appraisal by Colliers Romania.\u00a0 The net cash proceeds are estimated at EUR 43.5 million after working capital adjustments.\u00a0 The strip malls included in [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3121","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/3121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3121"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/3121\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}