NEPI sells €61 million Serbian retail portfolio to BIG CEE

Real estate services platform Novaston was an exclusive support agent in the sales process of two retail properties in Serbia between two influential investors in the Balkan region: NEPI Rockcastle and BIG CEE. The binding agreement with the total consideration of the approx. €61 million for retail properties Kragujevac Plaza Shopping mall (with a GLA of 22,300 sqm) and Krusevac retail park (with a GLA of 8,600 sqm) was signed in June.

The disposal is consistent with NEPI Rockcastle’s investment strategy to focus on core dominant properties and increase its presence in countries with an investment-grade rating. Following the disposal, NEPI Rockcastle will retain one core property in Serbia, Promenada Novi Sad.

“Both investor companies are Novaston’s reputable clients, with whom Novaston successfully cooperated on various projects. By offering complex logistics support within this transaction, Novaston played a significant role as the specialized associate in the entire process, from a buying/selling idea, through the complete due diligence process, to the finalization through the SPA signing, with the expected closing by the end of July 2021. By intermediating and supporting the process entirely by providing the highly professional services of complex consulting within all of the phases of the transaction process Novaston made an impact as the uniquely equipped company to deliver a consistent level of quality across the entire transaction lifecycle, continuing the further positioning and consolidation on the market of real estate consulting and supporting the further development of the retail industry in Serbia. We will continue on this path in order to further influence and shape the retail market in Serbia and the wider region”, said Mia Zečević, CEO of the Novaston platform.