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Reff & Associates assists New Europe Property Investments in the acquisition of City Park Constanta

Date: 12/20/2013
Reff & Associates, law firm member of Deloitte Legal, assisted New Europe Property Investments (NEPI) in the acquisition of City Park Constanta, a shopping center developed by Neocity and financed by Eurobank (Bancpost) and National Bank of Greece (Banca Romaneasca). The transaction, labelled as the most important 2013 real estate transaction in Romania, involved a complex process of legal reviews and assessments, structuring, drafting and negotiation of complex contractual documentation. The team coordinated by Partner Alexandru Reff and Managing Associate Ruxandra Macelaru worked in close connection with the Deloitte Tax team, which provided tax services for the buyer.

“This is a new achievement for our Property M&A team, which reinforces our reputation as one of the indisputable leaders in this practice area. We have mobilized a large team of lawyers specialized and experienced in these types of transactions and our continuing ability to access human capital with such professionalism and dedication has been our main asset,” said Alexandru Reff. “We are thankful to NEPI for continuing to entrust us with their legal affairs. The rigor and demands with which NEPI approaches every project is a worthy validation of our performance. I am proud of our team, which reconfirms our ability to manage, particularly in this practice area, any project, irrespective of how complex and demanding both in terms of know-how and volume of work” he added.

Ruxandra Macelaru noted that: “The satisfaction of completing this transaction is even greater given the complexity of the transaction due to several unusual and challenging legal issues. The excellent collaboration with our colleagues in the Tax practice at Deloitte and with the sell-side lawyers from Firon Bar Nir (which assisted Neocity group) led to the successful completion of the transaction. I am extremely honoured that I could take part in what stands out as the most important real estate transaction of 2013 in Romania.’’

About Reff & Associates

Reff & Associates is a Member of Deloitte Legal, a network of legal practices working with Deloitte all over the world integrated with the Deloitte multi-disciplinary advisory practice. The continuous and consistent involvement of Reff & Associates in landmark transactions over recent years has increased the firm’s visibility and market recognition and has prompted higher rankings in reputable international legal guides. The 2013 edition of Legal 500 Europe, Middle East & Africa ranks Reff & Associates alongside leading law firms, and particularly recommends its lawyers for their expertise in Banking & Finance, Capital Markets, Corporate and M&A and Real Estate work. As quoted in the said Legal 500 edition, the clients appreciate Reff & Associates as highly skilled and experienced, knowledgeable and professional, able to handle complex situations and having very good management skills. Reff & Associates is also recommended by IFLR 1000 for Banking, Capital Markets and M&A and by Chambers for M&A.

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Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/ro/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. Deloitte's 200,000 professionals are committed to becoming the standard of excellence.

© 2014 Deloitte Romania

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