The deal was made in December and was brokered by real estate consultancy firm The Advisers/ Knight Frank. The company also brokered Dedeman’s acquisition of land in the southwestern Romanian town of Drobeta Turnu Severin in 2011.
Galati is the fifth largest town in Romania with a population of over 300,000 and does not have a large commercial center, the consultancy firm said in a press release Tuesday.
GTC announced last year it was willing to sell the land, and it later decided to also sell its Galleria shopping malls in Piatra Neamt, Suceava, and Buzau. GTC also owns City Gate offices and a Galleria shopping mall in Arad, western Romania.
Dedeman has a national network of 30 stores and sales estimated at over EUR500 million in 2012.