Irish-owned mall sells at auction in Bucharest for EUR 60m

Cyprus-registered company Rosequeens Properties has acquired the Liberty Center mall in Bucharest at a public auction for the starting price of EUR 60 mln. Romanian media said that the buyer is administered by Ciprian Chiorean, legal manager of the Bank of Cyprus in Romania.

Bank of Cyprus is one of the three credit banks that forced the sale of Liberty Center to recoup outstanding debt of EUR 61 mln. The other two creditors banks are EFG Eurobank and Alpha Bank.

Liberty Center was delivered in 2008 and comprises a gross leasable area of 30,000 m² over three levels and 700 parking spaces. The owners of the shopping mall were Irish family firms Mivan and Awdi Group.

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