The representatives of City Mall denied rumors that investment fund APN/UKA had arranged to sell the property last year, claiming that APN was constantly revising its portfolio to identify divisions that may be sold out.
“The quarterly report released by APN lists all the assets and their sale potential and confirms that City Mall, on a number of factors, is not deemed relevant for a sellout, nor has it been listed for sale accordingly”, City Mall said in a release.
The representatives of the City Mall said the shopping center is undergoing a rebranding and repositioning program.
“We are keeping our repositioning strategy as a mall geared towards the community by adapting the tenant mix to our loyal customers’ needs”, said Mihai Agaficioaia (photo), managing director of City Mall.
The value of the shopping center fell in 2009, to €32.9 million, 36% below the level estimated mid last year, according to a report of APN/UKA European Retail Trust, that paid three times more for the project four years ago.
The tenant mix includes Hondos Center, Motor Jeans, Camel Active, Meli Melo, Killtec, Stone Creek, Kenvelo, Office Shoes, Columbia Sportswear, Sprider, Benvenuti, Lotto, Triumph, Jolidon, TinaR , Skiny, Cityplex, Laser Maxx, KFC, Springtime, Burger King, City Bistro and Costa Cofee.
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