Tuca Zbarcea & Asociatii has advised Belgian developer WDP on the full acquisition of the Expo Market Doraly wholesale, cash & carry, and retail shopping complex in Romania. Deloitte Legal reportedly advised sellers ARA Europe and Gheorghe Iaciu.
According to the firm, Expo Market Doraly is the largest complex of its kind in Romania, "covering an area of approximately 110,000 square meters, 37 pavilions, and over 400 tenants."
WDP is an owner of industrial-logistics spaces in Romania with a portfolio of almost 1.7 million square meters.
"The acquisition of Expo Market Doraly, the best-known local brand, marks WDP's entry into the wholesale market," Tuca Zbarcea & Asociatii reported. "WDP acquired the entire shareholding in Expo Market Doraly from ARA Europe and Gheorghe Iaciu, who founded the shopping complex in the '90s and will continue to manage the project alongside the current property management team."
The Tuca Zbarcea & Asociatii team was led by Partners Razvan Gheorghiu-Testa, Dragos Apostol, and Oana Ureche and Managing Associate Veronica Aman.
Editor's Note: After this article was published, Deloitte Legal Romanian affiliate Reff & Associates confirmed it had advised the owners of Expo Market Doraly. The firm's team included Partner Irina Dimitriu, Senior Managing Associate Larisa Popoviciu, and Managing Associate Maria Nitulescu.
