Austrian real estate development company Supernova Invest GmbH has acquired peer CA Immo’s stake in a retail project in Sibiu, central Romania.
CA Immo and partner Oasis Development planned to establish this project on an 18-hectare plot. Supernova and Oasis Development will infuse 15 million euros ($17.1 million) from their own resources in the project’s initial stage.
The initial stage of the project includes a hypermarket and a shopping gallery stretching over 15,000 square meters.
Later, a $34.2 million bank financing will be used for further extension of the project.