Square 7 Group announces new ownership and management structure

Square 7 Group announces today a new ownership and management structure for the entire group of companies: Square 7 Properties, Squarebox and Switchboard.

Clemens Petschnikar, who owned 100% of Square 7 Properties, has recently acquired the minority shareloder packages from Squarebox and Switchboard and is now the full owner of all the three companies in the group. Square 7 Properties is the company in charge with the development, Squarebox is the property management company, while Switchboard is the facility management company.

In the new management structure, under the leadership of Clemens Petschnikar as CEO, Ion Dinu is Head of Development, Brindusa Grama is Head of Asset Management, Carmen Gontescu is Finance Manager, while Irina Panaite is Head of CEO Office & HR.

Square 7 Properties is one of the most active players on the retail market. Recently it has inaugurated the expansion of Slatina Shopping Park (7,000 sqm) and has now under construction the project located in Giurgiu and another two new projects in Pitesti and Mediaș under authorization, the three developments from Giruigiu, Pitesti and Medias, having a total area of approximately 35,000 sqm.

The partnership between Square 7 and Mitiska REIM represents the foundation for one of the most dynamic players on the retail parks market, with a portfolio of 26 retail parks, covering 142,000 sq. m. in total.

The Square 7 Group has over 15 years of experience on the Romanian market, with a solid and professional team which covers a wide range of services starting from development, administration, to facility and property management. The business model of retail parks has food anchors, outdoor parking spaces and direct access to stores as assets.