Aberdeen Asset Management Deutschland AG reaches agreement to sell Auchan Titan Shopping Center
Aberdeen Asset Management Deutschland AG have reached an agreement to sell Auchan Titan Shopping Center in Bucharest to New Europe Property Investments (NEPI). Aberdeen was advised by Colliers International and law firm Biris Goran in the transaction.
Auchan Titan is a 45,000 sqm shopping mall located in the densely populated neighbourhood of Titan, Sector 3, Bucharest. Finalized in 2008, the centre hosts the first and largest Auchan Hypermarket in Romania as well as other well-known retailers including H&M, C&A, Takko and Deichmann.
Sinziana Frangeti, Associate Director with Colliers International commented: “The sale of Auchan Titan Shopping Center represents a successful exit for our client Aberdeen Asset Management and a very important transaction for the Romanian property market given the size and profile of the asset.”
Robert Miklo, Associate Director with Colliers International added: “The sale process undertaken confirmed a growing investor appetite for institutional assets in Romania and brings an important addition to local market liquidity and transaction volumes in the current year.”