• Acquisition from a distressed investor in default of its loan obligation and with no available capital or incentive to maintain the asset.


  • Equity provided by Fund I


  • Revetas was responsible for origination, restructuring of debt financing and will be responsible for value creation and active asset management curing the holding period.

Value creation

  • Opportunity for Revetas to take control of a strategic retail asset for minimal equity advance payment, and benefit from considerable upside.
  • Reposition the asset into large format shopping centre
  • Invest in building and tenant improvements and marketing to attract new international anchor tenants
  • Active asset management will improve rental income
  • Eliminate concessions, reduce non-recoverable costs and improve the quality of leases, including an enforced service charge
  • De-lever the bank debt to sustainable level

Property Type

  • Retail centre, 35,000m2


See property website for further details: www.vitantis.ro

Key Facts
Location Bucharest, Romania
Deal type Repositioning/Restructuring
Property type Prominent edge-oftown retail centre, 35,000m2
Target closing date 2013
Origination Direct from Bank
Status Under management