Delta Real Estate, negotiating with Hyprop Investments Ltd (South Africa) and Homestead Group Holdings Ltd, has completed the sale of its ownership quota in companies that own and operate Delta City Shopping Mall (Belgrade, Serbia).
JPM Senior Partner Jelena Gazivoda and Partners Uros Markovic and Nikola Djordjevic have provided the full legal and transactional support to Delta Real Estate and Hemslade Trading Limited during the negotiations and execution of this landmark transaction.
Delta City Belgrade is a modern and well-established shopping center with 29 876 m² of gross leasable area (GLA) and 122 shops located in a densely populated area of New Belgrade.
Hemslade Trading Limited has agreed with the same buyers on the sale of its ownership quota in a company that owns and operates Delta City Shopping Mall in Podgorica. The total value of both deals amounts to EUR 202,750,000.
For the period of 12 months, Delta Real Estate will oversee the management of malls on behalf of the buyers, with the existing mall staff continuing their employment with the newly acquired companies. Asset management responsibilities will be performed by Hyprop and Homestead.