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IMMOFINANZ mandated CBRE with the property management of four shopping centres in Romania

Date: 06/02/2016
Source: CBRE

CBRE Romania was mandated with the property management of IMMOFINANZ’s local shopping centres portfolio, in the largest property management transaction in Romania, starting June 1st. CBRE manages now the four shopping centres owned by IMMOFINANZ in the country: Polus Center in Cluj, Maritimo Shopping Center in Constanta, Gold Plaza in Baia Mare and Pitesti Mall, with a total lettable area of 147,824 sq.m.

The four centers record a total of over 600 tenants, including significant names in fashion, food and entertainment. Polus Center is the most dynamic shopping center in Cluj, with a total lettable area of 63,000 square meters, gathering, among anchor tenants, names like Carrefour, Decathlon, Zara, H&M, C & A and Cinema City. Maritimo Shopping Center has 50,000 square meters of commercial area and includes major fashion brands like Peek&Cloppenburg, H&M, Inditex Group (Zara, Bershka, Stradivarius, Pull&Bear), C&A, LC Waikiki. Gold Plaza Shopping Center from Baia Mare has a lettable area of 32,000 sqm and retailers such as Cora, Cinema City, H&M, Pimkie and Orsay, whilst Pitesti Mall has a rentable area of 18,600 sqm and stores such as C&A, H&M or Kenvelo.

“We will be focused on the further growth of our IMMOFINANZ retail activities in CEE in an intense contact with our tenants. We therefore decided to cooperate with CBRE for the property management of our Romanian shopping centres. This collaboration is a fortunate junction between the best retail products in the country and one of the most experienced property management teams in Romania", said Nicolas Fernandez de Retana, Head of Retail, Expansion & Leasing, IMMOFINANZ.

"It is a project that would make proud any real estate consultant. The strategic partnership involving IMMOFINANZ’s four shopping centers in Romania is an excellent opportunity for CBRE to prove once again our professionalism. As a person passionate about fashion, I am looking forward to go in any of the four shopping centers like home", said Luiza Moraru, MRICS, Head of Retail & Asset Services, CBRE.

CBRE is the real estate consultant with the largest number of retail property management, the four new centers being added to Sun Plaza in Bucharest and Felicia Shopping Center in Iasi, two shopping centers already in CBRE’s administration. The total square meters surface CBRE now administers in Romania thus reach 300,000 sq m. Besides the two offices in Bucharest, one in Iasi and one in Timisoara, CBRE will open new offices in Cluj, Constanta, Pitesti and Baia Mare, within the shopping centers included in its portfolio.

CBRE Central and Eastern Europe was recently awarded in Warsaw the "Property Management Company of the Year" at CEEQA (The Central and Eastern Europe real estate industry awards) and manages 2.466.6670 257 sqm of commercial area only in Central and Eastern Europe.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE: CBG), Fortune 500 and S & P 500 company headquartered in Los Angeles, is the largest real estate company and investment firm (in terms of revenues, 2015) in the world. The company has more than 70,000 employees (excluding affiliates) and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing, corporate services, property management, project management, mortgage banking, valuation, consulting services for real estate development, investment management and research and consulting. Please visit our website at www.cbre.ro.

On IMMOFINANZ
IMMOFINANZ is a commercial real estate company whose activities are focused on the retail and office segments of eight core markets in Europe: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Moscow. The core business includes the management and development of properties. The company has a real estate portfolio of approx. EUR 5.8 billion that covers more than 380 properties. IMMOFINANZ is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw.
Further information under: http://www.immofinanz.com.

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