IULIUS consolidates the Family Market concept by bringing on an American investment partner

Deniza Cristian 27/04/2023 | 14:55

The two companies, IULIUS and W&E Assets, hold equal shares in both of the Family Market convenience retail projects opened in 2022, in Miroslava Commune (metropolitan area) and in the Bucium neighborhood of Iași.

 

The partnership is the materialization of a goal to consolidate the new retail concept and, at the same time, to support the development plans in the local real estate. This also certifies the attractiveness of the Romanian property market for international investors, including those from across the Atlantic.

“We are diversifying our partner portfolio with a new collaboration, this time a Romanian-American one, which is a confirmation of the quality of IULIUS projects and their attractiveness on the investment market. IULIUS builds projects in order to own and operate them, and such partnerships help us support future development plans. It is part of our strategy to contribute to the attractiveness of the Romanian market, enrolling new investors with the same appetite for sustainable and non-speculative investments. We are confident about the new partnership and we will certainly continue to do what we do best, that is contributing to the development of Romanian cities,” said Iulian Dascălu, President of IULIUS Company.

W&E Assets is an investment partnership established by Cocanougher Family Office, with operations in the United States of America, and Iași-born tech entrepreneur Ilie Ghiciuc. Cocanougher Family Office invests in diverse industries, predominantly in Texas, USA, ranging from commercial and residential real estate developments, agricultural and resort operations, to industrial pipeline construction, mineral resource royalties, technology and stock market investments. The Romanian part of W&E Asset is represented by Ilie Ghiciuc, Iasi-native entrepreneur and founder of Thinslices, established more than 10 years ago, currently operating in Iași, Berlin, Lisbon and London. W&E Assets has recently entered the Romanian market and plans to expand in Europe, with a focus on key investments in retail, energy and other industries.

“I have been coming to Iași regularly for almost 10 years, after deciding to build our technologies with a local software company. I was always excited about the potential of Iași, considering its position in the region, as well as the development throughout this period. Of course, I was very well-aware of the projects of Iulius Group, including the Palas complex, so we looked forward to the partnership for the new retail developments in Iași. The projects are splendid and we see the investment in Romania as a long-term one, which is why we are very excited about this partnership and look forward to doing great work together in the future” said Daniel Cocanougher, CEO of the Cocanougher Family Office – Dallas, Texas, United States.

The Family Market projects will continue to be managed by the same team of property management specialists within IULIUS Group.

Two convenience retail projects were developed under the Family Market concept in Iași County, both entailing a total investment upwards of 24 million Euro. The projects opened last year have approximately 6,000 sqm of retail spaces each; they address trade areas of around 30,000 to 40,000 residents and are underpinned by the relevance of the shopping mix, their accessibility and time-saving facilities. The proposed mix includes an Auchan supermarket, fashion brand Sinsay, a McDonald’s Drive Thru (only in Family Market Bucium) and a series of local and national entrepreneurs and producers, selected in line with the expectations expressed by the relevant communities where the projects were developed. Thus, the locations provided in the two projects range from flower shop, grocery, pastry shop, meat goods, and restaurants, to car parts, hair salon and necessary everyday services.

The projects include green areas with mature trees and decorative plants, which help reduce the carbon footprint. They are also easily accessible by pedestrians, as well as by bike or car, owing to the mobility solutions implemented here, being fitted with car and bike parking spaces, as well as electric vehicle charging stations.

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Deniza Cristian | 28/06/2024 | 12:25
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