Act Botezatu Estrade Partners has advised Belgian group Louis Delhaize on the sale and lease-back transaction for a Cora-anchored commercial center in Cluj to Studium Green. Reff & Associates, Deloitte Legal’s affiliate in Romania, reportedly advised Studium Green.
Studium Green is a Romanian real estate developer.
Earlier this year, Act Botezatu Estrade Partners advised the Louis Delhaize and Galimmo groups on the sale of six Cora shopping centers to Supernova (as reported by CEE Legal Matters on January 3, 2022).
"We are glad to close the real estate chapter after having sold six hypermarket properties to Supernova last December and now Cluj to this best-in-class real estate developer Studium Green," Louis Delhaize Group Real Estate Director Josselin Granier commented. "This transaction will provide a significant retail and mixed-use redevelopment potential for the near future and will definitely benefit Cora as a tenant."
The Act Botezatu Estrade Partners team included Partners Laura Estrade and Mihaela Posirca and Counsels Iustina Sima and Andrei Muresan.
Editor's Note: After this article was published, Reff & Associates confirmed it had advised Studium Green. The firm's team included Partner Irina Dimitriu, Senior Managing Associate Larisa Popoviciu, Managing Associate Maria Nitulescu, and Senior Associate Alexandru Butusina.