City Mall put up for auction for 33m euros, 70% less than last transaction - financiare.ro
 Home Page  | News  | Exchange Rates  | Interbank Rates  | Central Banks  | Capital Markets Authorities  | Romanian Banks  | Archive  | Romanian  
 Finance-Banks  | Economy  | Business  | Capital Markets  | Real Estate  | Cars  | Travel  | HR Careers Education  | Media  | IT & C  | Environment 

News » February, 2011 » 17 February 2011

City Mall put up for auction for 33m euros, 70% less than last transaction
17.02.2011, 07:54 | Real Estate | 562 views



City Mall Shopping Center in Bucharest, which went bankrupt at the end of last year, will be put up for auction on March 31st for a starting price of 33 million euros, 70% lower than the transaction concluded four years ago, in which Australian group APN European Retail Trust paid over 100 million euros for the mall in the Eroii Revoluţiei area.

In other words, the banks - UniCredit and Bancpost - which have a 40 million-euro exposure to the project, took on a potential loss of nearly 20%, while the remaining lenders of Victoria Holding, City Mall owner, will probably not get even one eurocent back.

Read more on ZF.ro




Latest news in category Real Estate

The Romanian Development Ministry significantly increases fines charged to homeowners and local authorities who fail to carry out technical inspections and start rehabilitation works on buildings considered to have a high seismic risk. read more...


30.05.2011, ora 11:57 | 1294 vizualizări
City Mall Bucharest To See Fourth Sale Attempt, At EUR23.58M
Bankrupt shopping center City Mall Bucharest will be put up for sale for the fourth time on June 10, in an auction starting at EUR23.58 million, some 30% less than the initial price of EUR33 million. read more...


City Mall shopping center in Bucharest, currently bankrupt, might find a buyer at the third auction, for a price of at least EUR 26.2 million, considering Casa de Insolvenţă Transilvania, the project's liquidator, sold a document detailing the conditions of contract to an interested investor. read more...


Subscribe to newsletter
Name:
E-mail:
News: Yes  No 
Exchange Rates: Yes  No 


Top news last 7 days


Publicitate pe acest site
Copyright 1999-2019 Pandora Impex SRL.