The Bucharest office of Schoenherr has provided legal assistance on the creation of a 50/50 partnership between the Iulius Group, the developer and operator of the Iulius network of shopping malls, with Atterbury Romania.
Atterbury Europe, which is incorporated in the Netherlands, focusing on shopping center investments and retail development opportunities in Europe, particularly the fast-developing Central and Eastern region. One of Atterbury Europe’s shareholders is the Atterbury Group, which has developed prime commercial, retail, and residential property across South Africa and the rest of the African continent.
According to Schoenherr, Iulius, which was founded in 1991, "is the only Romanian developer and operator of mixed use projects, with an operational portfolio that entails more than 260,000 square meters of retail space, and 106,000 square meters of office space."
The partnership involves the operation of Iulius Mall Iasi, Iulius Mall Cluj, Iulius Mall Suceava, Iulius Mall Timisoara, and the mixed-use urban regeneration project Openville Timisoara, as well as the expected development of similar projects in Romania.
The Schoenherr team advising on the deal included Partner Markus Piuk and Local Partner Madalina Neagu.