APN buys Bucharest mall for EUR 104 mln

APN Property Group, an Australian manager of property funds, bought Bucharest's City Mall for EUR 104 mln, Daily Ziarul Financiar reported. The price paid for the city's third-largest mall is the highest ever for a single property in the Romanian capital, the newspaper said, citing an APN report. APN's purchase marks the third time City Mall has been sold since 2004, the Financiar said. It was sold in 2004 for EUR 25 mln and again in 2005 for EUR 46 mln, merchant bank Kempen & Co said.

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