NEPI Rockcastle has acquired the Festival Sibiu mall project from Primavera Development for €21 million. Reff&Asociatii provided legal assistance for NEPI in signing this deal.
Primavera Development announced in 2016 that it would resume its investment in the mall, located close to Sibiu’s centre. The value of the project is estimated at €70 million. The mall will have a gross leasable area of 43,000 sqm and should open at the end of 2019.
NEPI also owns the Sibiu Shopping City mall in the city, which it acquired for €100 million in 2016.
