Belgian Louis Delhaize sells real estate portfolio in Romania to Austrian Supernova
BUCHAREST (Romania), December 22 (SeeNews) – The Belgian distribution group Louis Delhaize has signed a sale & lease back transaction with the Austrian group Supernova for its real estate portfolio in Romania, the distribution unit cora Romania announced on Wednesday.
Louis Delhaize will continue to operate the six cora hypermarkets associated with the transaction in anchor tenant mode, cora Romania said in a press release.
The amount of the transaction was not disclosed.
“I am delighted that the solid development of our group continues and that we can now achieve a significant presence in the Romanian market. cora is an important partner, with major projects, in very attractive locations. We are convinced that in the near future we can improve all the centers together and make them even more attractive ”, said Frank Philipp Albert, CEO of the Supernova group.
Supernova is committed to investing at least 40 million euros ($ 45.2 million) to renovate all shopping centers and add major extensions to some of them over the next 3-5 years.
“This sale & lease back transaction opens a new chapter in cora’s retail business, as it gives us the opportunity to focus on developing our commercial footprint. We made this decision after having carefully assessed the group’s real estate assets in Romania and we see it as an important advantage for future local development ”, declared Thierry Destailleur, CEO of cora Romania.
The Louis Delhaize Group has been present in Romania since 2003 with the cora brand. Supernova is an international company specializing in the development and management of commercial real estate in Austria, Slovenia, Croatia and Romania.
($ = 0.8854 euros)
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