In order to develop the mall, the Israeli company Neocity, founded and managed in the region by the businessman Ehud Benshach, took in 2006 EUR 48.5 million loans from Eurobank (Bancpost) and National Bank of Greece (Banca Românească), but NEPI decided to buy the mall by paying back the entire amount of the remaining loan.

„The transaction closes today at approx. 9% yield per year and a price of EUR 81 million“, has declared for ZF on Tuesday Martin Slabbert, CEO NEPI.

UP to this takeover, the transaction of the year was considered the acquisition made by NEPI in the beginning of 2013, in February, when the South-African paid EUR 61.7 million for The Lakeview office building in Bucharest.

Neocity is a company initially known on the local market for the development of some office buildings on Calea Dorobanţilor, where the group developed the current headquarters of the Greek Alpha Bank. (source: zf.ro)