Cocor Bucuresti, which owns the Cocor shopping center in downtown Bucharest, has raised nearly €4m by selling off a 196 sqm retail space on Unirea Boulevard. That works out to more than €20,340 per sqm. According to business-review.ro, no buyer’s name has been released, but it goes onto to report that the company’s shareholders decided in July to sell off a variety of assets. The purpose is to raise the money it needs to pay off a €18m loan from BCR in 2008.
“We remain committed to sell some of them in order to continue with the reorganization of the Cocor store, a process which will include changing the tenant mix and building an entertainment area,” Daniel Stoica, one of the shareholders, told the media outlet.
