M Core buys Shopping City Suceava from Argo Capital

by   CIJ News iDesk V
2025-02-04   10:10
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British group M Core has signed for the acquisition of Shopping City Suceava shopping center from real estate investor Argo Capital, marking the largest transaction in the last five years involving the full sale of a mall. This agreement also marks the sale of the last major asset of the Argo Capital group in Romania.
Shopping City Suceava has a rentable area of 43,100 sqm, where over 100 retailers such as Carrefour, Leroy Merlin, Mobexpert, Decathlon, Sinsay, New Yorker, KFC operate, according to data from real estate consulting company iO Partners, which advised Argo Capital on the transaction.

“Argo has played a key role in the development of the Ukrainian retail market since 2006 and, as the market has evolved, we have decided to withdraw from Romania and focus on the Ukrainian market, which we anticipate will become extremely dynamic once the war ends,” said Andreas Rialas, Director of Argo Capital.

“This acquisition aligns with our strategic expansion objectives in Romania. We are actively exploring all opportunities in the retail sector to develop our portfolio and strengthen our presence in the market,” said Sebastian Macdonald-Hall, Chief Investment Officer at M Core and Co-CEO for Romania at LCP.

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