ARGO Real Estate buys ERA Shopping Parks in Oradea and Iasi

ARGO Real Estate Opportunities Fund (AREOF), a property fund listed on the London AIM market, is buying two of the largest retail parks in Romania, ERA Shopping Park in Oradea and ERA Shopping Park in Iasi, from developer Omilos Group. AREOF’s local portfolio also includes Shopping City Sibiu and Shopping City Suceava.

ERA Shopping Park Oradea occupies a total surface of 180,168 sqm and required a EUR 80 million investment. ERA Shopping Park Iasi is the largest commercial area outside of Bucharest and occupies a total surface of over 350,000 sqm and will see a total EUR 175 million invested in its development.

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