Austrian property company Immoeast is continuing its expansion in the Romanian retail property sector having raised EUR 2.8 bn in a capital increase last month to finance a EUR 6 bn investment programme in Central and Eastern Europe. The company's latest investment was the acquisition of the Euromall shopping centre in the industrial city of Pitesti for EUR 87 mln. The fully-let asset has 120 retail units covering a total usable area of 32,000 m[sup]2[/sup]. It is the only shopping centre in the region which conforms to modern standards, Immoeast said.
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