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.