NEPI Investment fund has taken over the Promenada shopping center in Bucharest through an investment of €130m. Markus Neurauter, managing director of Raiffeisen Evolution, says the sale of the shopping center is a standard move for all developers who need to exit projects in order to finance future investment. Promenada shopping center is the last phase of the project Floreasca City, which includes Sky Tower. Promenada attracted a number of investors, but not all had sufficient the necessary financial resources.
