M Core set to acquire Shopping City Suceava, Focșani Mall, and Retail Parks in Romania

British real estate giant M Core is in advanced negotiations to acquire two major shopping centers—Shopping City Suceava and Focșani Mall—along with a portfolio of retail parks in Romania. The transaction is estimated at approximately EUR 100 million, according to industry sources.

Both malls, launched in 2008, represent key assets in the Romanian retail landscape. M Core, one of the UK’s largest commercial property owners with a portfolio valued around EUR 7 billion, first entered the Romanian market last year by acquiring 25 retail parks from Belgian investor Mitiska REIM for EUR 219 million.

As part of its expansion strategy, M Core formed a joint venture with Square 7 in April, tasked with overseeing the company’s growth in Romania. The acquisition of Shopping City Suceava, Focșani Mall, and additional retail parks would solidify M Core’s presence in the region, where it aims to further establish itself as a prominent player in the Romanian retail property market.

Source: Profit.ro