BIG Shopping Centers reports that the subsidiary CEE-BIG BV, which is 95% owned by BIG, has signed an agreement to purchase DELTA CITY Mall located in Podgorica, Montenegro, at an agreed value of EUR 95 million.
Karanovic & Partners were proud to be involved with this acquisition, as our colleagues were the team responsible for legal matters of the whole process including Partner Ivan Nonković and Senior Associate Marko Ćulafić.
Lev Weiss, CEO of BIG CEE, who leads the growing operations in Serbia and the Balkans, has stated that the company is proud to be adding this strong asset to BIG’s asset portfolio and to start its first operation in Montenegro.
“BIG continues to locate strategic assets in order to expand its commercial power which, in addition to success achieved in Serbia, ranks BIG in the position of one of the leading commercial real estate companies in the Balkan Region. Delta City Podgorica is the most powerful asset in the country and one of the most powerful commercial facilities in the Balkans“, added Hy Galis, CEO of Big Shopping Centers.
DELTA CITY mall has 24,500m2 GLA of commercial space, 1000 parking spaces and occupancy rate of about 100%.
*Partner and Senior Associate refer to Independent Attorney at Law in cooperation with Karanovic & Partners.
The information in this document does not constitute legal advice on any particular matter and is provided for general informational purposes only.