The acquisition has been undertaken in terms of a long-term co-investment agreement that MAS has entered into with Prime Kapital.
Reff & Associates was constantly involved in all the stages of the transaction, from due diligence, deal structuring and negotiation to signing the conditional sale-purchase agreement.
The project was spearheaded by Irina Dimitriu, Associate Partner with Reff & Associates, head of the real estate practice, and coordinated by Simona Iacob, Managing Associate and Ioana Georgescu, Senior Associate.
Jonathan Knight, Chief Investment Officer of MAS REI stated that “I was very pleased to have been able to work with the team at Reff & Associates on this complex transaction. The dedication of the team to ensure delivery of the transaction through to signing was a really important part of the success of the project. The ability to access the wider network within Deloitte was also a major benefit to working with Reff & Associates.”
Added Irina Dimitriu: “The project was a particularly complex and challenging one, spanning over a negotiation period of several months, and involved most practice areas in Reff & Associates, as well our tax and financial advisors from Deloitte Romania and Netherlands. We are proud to have supported our client in what we expect to be one of the largest real estate transactions of 2018.”
The transaction services team at Deloitte Romania provided financial due diligence support in the transaction, with a team led by Radu Dumitrescu, Transaction Services Partner and included Vlad Balan, Bogdan Mazilu, Atena Mituca, Miruna Ciocea and Silviu Antonescu.
“Time was crucial in this transaction and I believe that our team of experienced specialists in real estate proved commitment and efficiency in the way that the job was structured,” said Radu Dumitrescu.
Established in 2008, MAS has assembled, through acquisition and development, a high quality portfolio of retail, office, industrial, logistics and hotel properties in Germany, the United Kingdom, Bulgaria, Poland, Switzerland and Romania. The income-generating properties have income derived from tenants with strong covenants. MAS has embarked upon expansion into the growing economies of CEE. To facilitate the expansion, the group has established a long-term partnership with Prime Kapital, a management team with exceptional development, investment and financing experience in these markets. In the last 18 months, the joint venture has acquired a shopping centre in Poland, and two shopping centres in Bulgaria, as part of the expansion into the Central and Eastern European market.
For more than 25 years, Deloitte Romania has been in the heart of business offering high quality services by putting together the minds, creativity and experience of its talented people within a full range of services. Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients ranging from SMEs to multinational companies. With over 1100 people in Bucharest, Timisoara and Cluj-Napoca, Deloitte provides its customers with bright, practical and innovative solutions to tackle the business challenges.
With a team 73 lawyers, Reff & Associates is one of the largest law firms in Romania and one of the most dynamic in advising clients in complex M&A, Real Estate, financing and loans portfolio projects.