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Tuca Zbarcea & Asociatii Advises Revetas Capital on Sale of Shopping Center to Praktiker

Tuca Zbarcea & Asociatii Advises Revetas Capital on Sale of Shopping Center to Praktiker

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Tuca Zbarcea & Asociatii has advised Revetas Capital on its disposal of the Vitantis Shopping Center to Praktiker Real Estate Romania. Moldovan & Partners reportedly advised Praktiker.

"The deal marks the completion of a successful repositioning and revival of the retail scheme into a large-scale neighborhood power center focused on home, convenience, and grocery products, with long-term leases secured by well-established domestic and international retail operators," Tuca Zbarcea & Asociatii informed.

The Vitantis Shopping Center is a retail space covering 38,000 square meters, located in Bucharest's fourth district.

Founded in 2012, Revetas is a real estate investment advisor focusing on value-add assets in the CEE. The company operates in London, Vienna, and Luxembourg.

"The Vitantis Shopping Center was one of most ambitious investment exercises we undertook in 2014 and a showcase of a successful turnaround of a 'first generation' shopping center located in one the most competitive submarkets of the Romanian capital city," Revetas Capital Head of Investments Radu Boitan commented. "The sale of Vitantis sets a new benchmark in the market as the first retail transaction in Romania to be completed post-COVID-19 in an open market process, following a record-breaking lease-up program to a mix of successful retail operators to which we are grateful for their trust and partnership. The transaction is proof of the maturity and resilience of the retail sector in a period of profound transformations."

The Tuca Zbarcea & Asociatii team was led by Partners Oana Ureche and Razvan Gheorghiu-Testa.

Tuca Zbarcea & Asociatii at a Glance

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

Firm's website.