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Sale of Promenada Mall, the largest single asset transaction ever in Bucharest

JLL provides strategic advisory to Raiffeisen Evolution on the sale of Promenada Mall in Bucharest, Romania.
MAPIC, 20th November 2014 - Earlier this month, JLL successfully advised Raiffeisen Evolution - the renowned Austrian development company - in the sale of the Promenada Mall (38,209 m² of GLA) in Bucharest, Romania.

Promenada Mall

The Promenada Mall, which opened in October 2013, is Bucharest’s newest shopping mall, and is located in the heart of the new Floreasca - Barbu Vacarescu business district. Raiffeisen 

Evolution developed the Project to the highest international standards and as such it has become one of the landmark projects in this fast growing district. The centre is anchored by a variety of national and international tenants and has a multifunctional roof terrace as a unique feature. 

Promenada Mall

Gijs Klomp, MD and Head of Capital Markets at JLL Romania commented: “The sale of Promenada Mall just weeks after another record setting transaction in which JLL was also involved* clearly shows that Romania is indeed “back in the spotlight”. Despite the large ticket size, several international investors expressed strong interest in this high quality project. The subject transaction is the largest transaction involving a single asset in Bucharest ever and the second largest in Romania.”

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