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Karanovic & Partners and CMS Advise on BIG Shopping Centers’ Acquisition of Delta City Mall Podgorica from Hystead Limited

Karanovic & Partners and CMS Advise on BIG Shopping Centers’ Acquisition of Delta City Mall Podgorica from Hystead Limited

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Karanovic & Partners has advised BIG Shopping Centers on the EUR 95 million acquisition of Delta City Mall from Hystead Limited. CMS advised the seller.

Delta City Mall is located in Podgorica, Montenegro, and has 24,500 square meters of gross leasable area of commercial space. The property includes 1,000 parking spaces and has close to 100% occupancy rate.

Hystead Limited is a London-based company and investor in the Western Balkans.

BIG is an Israeli Stock Exchange-listed company, that operates and manages 26 shopping centers and malls in Israel and also has a presence in the United States, Serbia, and France.

"BIG continues to locate strategic assets in order to expand its commercial power which, in addition to the success achieved in Serbia, ranks BIG in the position of one of the leading commercial real estate companies in the Balkan Region," Big Shopping Centers CEO Hy Galis commented. "Delta City Podgorica is the most powerful asset in the country and one of the most powerful commercial facilities in the Balkans."

CMS previously advised Hystead Limited on its sale of the Delta City shopping mall in Serbia (as reported by CEE Legal Matters on December 17, 2021).

The Karanovic & Partners team included Partner Ivan Nonkovic and Senior Associate Marko Culafic.

The CMS team was led by Partners Maja Stepanovic and Milica Popovic and included Partner Ivan Gazdic and Attorney Tamara Samardzija.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

Firm's website.