New Europe Property Investments and Belrom tie up in €63 million acquisition of European Retail Park, Braila

The transaction is part of a wider acquisition plan over the next 3 months by which New Europe Property Investments plc is acquiring three retail parks from Belrom Real Estate. KBC has agreed to provide New Europe Property Investments €113 million facility for these acquisitions out of which €40 million will be used to part finance the first acquisition

Launched in 2008, European Retail Park Braila is a 53.000 GLA square meter project, with anchor tenants including Carrefour, Bricostore and Staer.

The acquisition has been structured in two components to include cash and shares issued by New Europe Property Investments, quoted on the London (AIM market of the London Stock Exchange share code NEPI) and the Johannesburg (AltX market of the JSE Limited share code NEP) stock exchanges. Two representatives from Belrom Real Estate will be appointed to the board of New Europe Property Investments.

New Europe Property Investments is associated with leading South African property group, Resilient Property Income Fund (also listed on the Johannesburg Stock Exchange). New Europe Property Investments intends to acquire a larger portfolio of commercial centers in Romania over the course of the next year and wishes to strengthen its relationship with leading developers.