PL

ROMANIA MAS shops for PKM centres

Retail & leisure
MAS Real Estate has agreed to buy six Romanian shopping centres with a combined area of 132,800 sqm gla from PKM Development, its joint venture with Prime Kapital, for EUR 319.7 mln.

The purchase price after adjustments for working capital and bank debt comes to app. EUR 197 mln.

The properties to be transferred to MAS Real Estate’s portfolio are: Dâmbovița Mall in Târgoviște (31,100 sqm gla), DN1 Value Centre in Balotești (27,400 sqm), Prahova Value Centre in Ploiești (21,700 sqm), Zălău Value Centre in Zălău (19,300 sqm), Sepsi Value Centre in Sfântu Gheorghe (16,900 sqm) and Barlad Value Centre in Bârlad (16,400 sqm).

In H2 2021, the net operating income of the six centres totalled EUR 6.16 mln.

MAS Real Estate is part of Maltese-registered MAS Plc., which is listed on the Johannesburg Stock Exchange.

The transaction is subject to the approval of MAS shareholders, board and regulatory approval, and regulatory consent.

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