Lewis Charles sells Zenith Mall
19 March 2009
Lewis Charles Romania investment fund sold the project of the Ploiesti-based Zenith shopping center to the Blackpearl Property developer for less than EUR 10 million, according to sources in the real estate market.
The Retail Park Magnolia company, through which the fund owned the property, was valuated at EUR 19.8 million, Lewis Charles has said. Following the sale, the fund announced the termination of its contract with Westhill, which was to ensure the development of the mall.
Blackpearl Property formed a joint venture with Lewis Charles for the Evergreen residential complex, a project which has also been put on hold, market sources said.
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