German investment fund to take over Iris Shopping Center for €147 mln

The takeover follows a deal signed by DEGI and the shopping center's current owner, the Avrig 35 group.

The new acquisition will be integrated in DEGI Europe Retail, specialized in commercial centers across Europe. DEGI is part of Scotland-based Aberdeen Property Investors Group.

This is the largest transaction involving a Bucharest shopping center. The project has 48,000 square meters of rentable space and 2,000 parking spaces. (NewsIn)