Reff & Associates has advised MAS Real Estate on its acquisition of the Militari Shopping Center in Bucharest from Atrium European Real Estate in a transaction worth EUR 95 million. Atrium was advised by Kinstellar Romania, working with Atrium Chief Transaction Counsel Marc Lavine, on all local matters related to the transaction.
The Militari Shopping Center is a retail park in the Militari district of Bucharest. It has 51,400 square meters of floor space. The acquisition was undertaken pursuant to the terms of a long-term co-investment agreement that MAS entered into with Prime Kapital.
According to Reff & Associates, MAS, which was established in 2008, "has assembled, through acquisition and development, a high quality portfolio of retail, office, industrial, logistics and hotel properties in Germany, the United Kingdom, Bulgaria, Poland, Switzerland, and Romania. The income-generating properties have income derived from tenants with strong covenants. MAS has embarked upon expansion into the growing economies of CEE. To facilitate the expansion, the group has established a long-term partnership with Prime Kapital, a management team with exceptional development, investment and financing experience in these markets. In the last 18 months, the joint venture has acquired a shopping centre in Poland, and two shopping centers in Bulgaria, as part of the expansion into the Central and Eastern European market."
The Reff & Associates team included Associate Partner Irina Dimitriu, Managing Associate Simona Iacob, and Senior Associate Ioana Georgescu.
Kinstellar's team included Partner Victor Constantinescu and Associate Florina Toma.