Voicu & Filipescu has advised Bel Rom Twelve on the sale of 12 of the 22.5 hectares of land it owns in Ramnicu Valcea, Romania, to the South-African investment fund New Europe Property Investments (NEPI), marking the third such sale of real estate by the Bel Rom group to NEPI. Reff & Associates — a member of Deloitte Legal — advised NEPI on the deal.
Voice & Filipescu describes client Bel Rom as "one of the most important real estate developers active on the local retail parks market, covering several Romanian cities, where they own land or have already developed projects. The group’s retail parks developed in Sibiu, Targu Mures, Braila and Drobeta Turnu Severin have been sold to investment funds.”
“This is one of the most important real estate transactions in Romania over the recent period and one of the numerous deals we have done here,” said Hendrik Danneels, one of Bel Rom's shareholders. "We intend to continue our investments on the local market and, as NEPI is one of the most reputable market players, we are open to consider them for future deals. Our excellent collaboration with Voicu & Filipescu was a key element of this transaction.”
“We are honored to have assisted Bel Rom Twelve in this transaction as well, which is the third deal with NEPI, after the sale of the retail parks developed in Braila and Drobeta Turnu Severin,” said Voicu & Filipescu Real Estate Partner Roxana Negutu, who led the firm’s project team. "We allocated a strong team of experienced lawyers, closely familiar with the project, the client and the market, ensuring that the optimal solutions are reached in this transaction."
The Reff & Associates team advising NEPI on its acquisition in Ramnicu Valcea consisted of Managing Associate Diana-Mihaela Radoi and Associate Maria Nitulescu. Reff & Associates previously advised NEPI on its acquisition of the City Park Mall of Constanta, Romania (as reported by CEE Legal Matters on January 8, 2014).