Rosequeens Properties buys EUR 60mn shopping mall in Romania.

By bne IntelliNews August 8, 2012
Romanian Rosequeens Properties SRL has bought Liberty Center shopping mall, located in Bucharest, from Mivan developer and Awdi family, Adevarul daily reported. The purchase price was the starting price asked in the auction organised under the insolvency procedure. Rosequeens Properties is controlled by Cyprus-based Rosequeens Properties Limited, which according to speculations of ZF daily, is likely to be an investment vehicle controlled by the banks that financed the project - Eurobank, Alpha Bank and Bank of Cyprus, Adevarul reported. Mivan developer and Awdi family opened the shopping mall in October 2008 after a EUR 70mn investment. The mall however was not profitable and was unable to pay its EUR 61mn debt to the three lenders.
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