Globe Trade Center (GTC) Real Estate sells Galleria Buzau shopping center to Eurosting, a Romanian company specialized in production and distribution of fire extinguishing systems.
Eurosting, with a EUR 8 million yearly business, will take over the retail center, including the existing leases and plans to reposition and re-brand the shopping center.
Crosspoint Investment Banking & Real Estate oversaw the financial aspects of the acquisition and will continue to oversee the repositioning of the shopping center on the Buzau market as well as the tenant mix.
GTC opened Galleria Buzau in 2008. On 14,000 sqm leasable area, it hosts tenants such as Leonardo, TinaR, Fox, Casa Rusu, Flanco, Adidas.
“This is the first major retail deal in 2015. We have positive signs for mergers and acquisitions this year, in various fields, and we believe we will see several significant market deals this year,” Codrin Matei, managing partner, Crosspoint Investment Banking & Real Estate, declared.