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

„We are pleased to close the first of a number of acquisitions of retail centres with Belrom and we look forward to a long and mutually beneficial relationship with Belrom.” said Martin Slabbert, managing director of New Europe Property Investments.

Founded in 2004, Belrom Real Estate is one of the leading retail developers in Romania. The group has delivered five retail parks in cities outside of Bucharest: Sibiu, Braila, Tg. Mures, Bacau and Focsani (in total around 300.000 sq m), whilst another four are to be delivered in the following two years. The relationship with New Europe Property Investments gives Belrom a strong financial partner to continue to deliver projects in a time when most developments are stuck.

„We are happy about this newly signed partnership. Their experience and financial strength will be an asset for our existing operational projects and will speed up our forecasted retail park developments. We do believe a lot in the future of Romanian retail!”, said Steven Van Den Bossche, managing director of Belrom Real Estate.

“DTZ Echinox is proud to be part of a major investment deal in the current market context, thus proving our ability to create value in the investment process. The complex sale of three European Retail Parks represents a strong positive message for the real estate market: we hope to stimulate further the appetite of the investors and increase the so much sought after liquidity.” said Cristian Ustinescu, Investment Director at DTZ Echinox.