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) and Delta City Shopping Mall.
Hemslade Trading Ltd 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 €202,750,000.
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 Ltd during the negotiations and execution of this landmark transaction.
For the period of 12 months, Delta Real Estate will oversee the management of both 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.
Delta City Belgrade is a modern and well-established shopping centre with 29,876m² of gross leasable area (GLA) and 122 shops located in a densely populated area of New Belgrade. Delta City Podgorica is a prominent, contemporary shopping centre, offering 23,608m² of retail GLA, with 80 shops. The mall is located on the main boulevard in Podgorica, the capital city of Montenegro.