NEPI is taking over Degi Titan through daughter companies Nepi Sixteen Real Estate Investment and Nepi Bucharest Two.
NEPI, one of the largest and most active investors on the Romanian real estate market, announced end-August week it bought the Titan Shopping Center from Germany’s Aberdeen Asset Management in a EUR86 million deal.
The shopping center has a gross lettable area of about 45,000 square meters and is anchored by Auchan Titan, the top performer of the French-held hypermarket network in Romania.
Degi Titan posted revenues of RON43.7 million (EUR9.8 million) last year.