Romania: Schoenherr advises IULIUS Group and Atterbury Europe on joint venture for real estate development

"The agreement between IULIUS and Atterbury Europe seeks to establish a strong partnership for the development of commercial real estate projects in Romania," commented Schoenherr partner Madalina Neagu. "We were thrilled to support both parties in strengthening their position and accelerating their strategies."

Atterbury Europe is a company incorporated in the Netherlands, focusing on shopping centre investments and retail development opportunities in Europe, particularly in the fast-developing Central and Eastern regions. The company emphasises co-investing with local partners who are leaders in their jurisdictions, with access to a development pipeline that can be accelerated. One of Atterbury Europe's shareholders is the Atterbury Group, which has developed prime commercial, retail and residential property across South Africa and the rest of the African continent.

Founded in 1991, IULIUS is the only Romanian developer and operator of mixed-use projects, with an operational portfolio of more than 260,000 m2 of retail space and 106,000 m2 of office space. The company created the IULIUS MALL national network, which includes four regional shopping malls and the urban mixed-use project Palas Iaşi. With an annual footfall of more than 66 million visitors, the company's projects are market leaders on a regional level.

The Schoenherr team advising on the deal was led by Markus Piuk (partner, Vienna; corporate m&a) and Madalina Neagu (partner, Bucharest; corporate m&a).