Big CEE, a subsidiary of Big Shopping Centers, has purchased Promenada shopping mall in Novi Sad from Nepi Rockcastle for €177 million, in a record transaction for the Serbian retail market.
The mall has a gross leasable area of 49,200 sqm and is fully occupied, with an annual footfall of 10 million.
As part of the transaction structure, €105 million will be financed through a loan from leading European banks.
Lev Weiss, CEO of Big CEE, highlights that the acquisition is in line with the company’s development and growth strategy, which focuses on shopping centers and mixed-use complexes.
The transaction was led by Uzi Eli, VP of International Business Development at Big Group.
Big’s portfolio comprises 15 operational centres across Serbia and Montenegro, totaling 368,000 sqm.
