bpv GRIGORESCU STEFANICA has advised HORNBACH on the acquisition of a land site for its first outlet in the Western region of Romania. The property is located at the outskirts of Timisoara on Calea Aradului, integrated into a retail agglomeration, next to Real and Selgros hypermarkets.
The project is scheduled for commissioning in the first half of 2012 and will offer over 20.000 sqm of DIY retail area in one of HORNBACH’s largest developments in Romania so far.
bpv GRIGORESCU STEFANICA team was led by partner Anca Parascan, head of the real estate practice, and included senior associates Nicolae Ursu (real estate) and Alina Melcescu (corporate).
“bpv GRIGORESCU STEFANICA has proven again its capability of excellent guidance through complex transactions.” Christian Reiber, Head of Real Estate Development CEE, HORNBACH.
With an average store size of more than 11,000 m², HORNBACH is the market leader in the DIY megastore segment in Europe. The company provides a comprehensive range of products at permanently low prices at its more than 130 DIY megastores with garden centres in nine European countries. In Romania, HORNBACH currently operates three outlets in Bucharest and one in Brasov.