MAS completes the disposal of six Romanian open-air malls

MAS, the Johannesburg-listed real estate investor backed by Africa's largest pension fund, completed the sale of six open-air shopping centres in Romania (Ploiesti, Zalau, Roman, Baia Mare, Sfantu Gheorghe, Barlad; 125,000 sqm combined GLA, generating EUR 22.7m/year) to AFI Europe, controlled by the Naftali family, for a EUR 281.8 million total transaction value (EUR 197.7m cash to MAS plus EUR 84.5m in assumed bank loans) -- the largest transaction ever signed in Romania's retail real estate sector, making AFI Romania the country's second-largest shopping-centre owner.