Reff & Associates | Deloitte Legal assisted MAS Real Estate, one of the largest owners of shopping centers in Romania, in the process of selling six properties of this type to AFI Europe. The value of the transaction exceeds 280 million euros
Reff & Associates Team | Deloitte Legal assisted MAS Property Holding, part of the South African group owned by MAS PLC (listed on the Johannesburg Stock Exchange) in the sale of six open-air shopping centers worth over €280 million to property developer AFI Europe NV. The transaction is subject to the approval of the Competition Council and the Commission for Foreign Direct Investments (CEISD) in Romania and is estimated to be completed by June 30, 2026.
Reff & Associates Team | Deloitte Legal involved in the project provided assistance to the MAS group in the due diligence process that was the basis of the sale, using the experience gained during the long-term collaboration with the client to identify solutions that led to the simplification and efficiency of the entire process. The team included lawyers Irina DimitriuPartner and leader of the real estate law practice, Simona JacobCounsel, who coordinated the entire project, Maria NițulescuSenior Managing Associate, Ioana Georgescu-MureșanuManaging Associate, Călin Georgescu-Mureșanu, Senior Associate, Diana Dulama, Marie-Louise Zanfir and Andreea VoicuAssociates. They also contributed to the success of the project Ovidiu BalaceanuCounsel, and Mihai TecuțăSenior Associate.
“Involvement in this transaction represented a natural step in the continuation of the partnership we have been developing for several years with MAS Property Holding, in which we had the opportunity to provide assistance in complex projects of sale, purchase and other specific operations. Our multidisciplinary approach contributed to the successful completion of this new stage of collaboration, by involving colleagues from several areas of practice, thanks to which we were able to offer the client effective solutions, adapted to the transaction, but also to the context of market. We thank our collaborators for their trust and we are ready for new challenges in an increasingly competitive real estate market,” said Irina Dimitriu, Partner Reff & Associates | Deloitte Legal, and the leader of consulting services for the real estate sector within Deloitte Romania.
The shopping centers that are the object of the transaction are Prahova Value Center from Ploiesti, Zalău Value Center, Baia Mare Value Centre, Roman Value Centre, Sepsi Value Center from Sfântu Gheorghe and Bârlad Value Centre. The total leasable surface of the six assets is 125,500 sqm, and they are currently occupied by hypermarkets, national and international tenants and public catering areas.
Even after these sales, MAS remains one of the most important investors in commercial retail in Romania, keeping in its portfolio major assets such as Militari Shopping Center in Bucharest, DN1 Value Center in Balotești, Dâmbovița Mall in Târgoviște and Atrium Mall in Arad. Also, the company remains involved in large projects such as Argeș Mall in Pitesti and Mall Moldova in Iași.
AFI Europe is part of AFI Properties, one of the leading real estate development, management and investment companies operating in Central and Eastern Europe since 1997.
The group operates in Romania, the Czech Republic, Poland, Bulgaria, Serbia and Latvia.
Reff & Associates | Deloitte Legal, with a team of 86 lawyers specialized in the main disciplines of business law, is one of the most important law firms in Romania and offers services covering the fields of financial-banking, competition, labor law, energy and environment, insolvency, litigation, corporate law, mergers and acquisitions, public sector and real estate law, as well as the optimization of legal processes and the implementation of new technologies. The firm represents Romania in the Deloitte Legal global network, which has over 2,500 lawyers in 80 countries.
Article supported by Deloitte Romania
