MAS sells strip malls in Romania for €49 million

Business Forum

21 December, 2024 at 11:03 AM

MAS has entered an agreement for the disposal of all its strip malls in Romania to M Core Group for €49 million. The deal pending approval from local authorities could be completed by March 2025.

The deal covers seven retail projects with a combined leasable area of 27,800 sqm. The most expensive project of the lot is based in Focșani and was sold for €13.1 million.

The strip malls sold recorded a net operating income of €3.6 million in the financial year that ended in June 2024.

The proceeds from the sale will support the company's capital reallocation to fulfil its financial commitments, including the bond maturing in May 2026.

With the new acquisitions, M Core's retail portfolio in Romania will comprise 32 projects.

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