NEPI Rockcastle sells two Serbian malls to Israeli group BIG

NEPI Rockcastle is selling two of its three malls in Serbia, Kragujevac Plaza and Krusevac Shopping Park, both with land for new expansions, to CEE BIG BV, one of AFI Europe's shareholders.

The value of the transaction is EUR 60.8 million, money that will be used by NEPI Rockcastle to finance new acquisitions and developments.

The Kragujevac Plaza property has a leasable area of 22,300 sqm, generates an annual income of EUR 4 million and was valued at EUR 44.6 million. The Krusevac Shopping Park was valued at EUR 11.7 million, has a leasable area of 8,600 sqm and generates annual revenues of EUR 1 million.