Romarta and Imobili Network Development Group

Country
Romania

Description
Privatized chains of retail stores.

Through the privatization program that began in Romania in the early 1990ís, many previously government-operated retail chains became independent companies. However, most of the chains were unsuccessful with their old business models, stale inventory, inefficient management, poorly negotiated leases and rents denominated in what at the time was a rapidly depreciating local currency.

After acquiring stakes in the companies that owned the properties, NCH recruited qualified local staff to specifically handle marketing, leasing and management of the spaces owned by these chains. Currently, a team of professionals managing these tasks report directly to the NCH Bucharest office. These professionals have created national brand names and identities for each of the chains, and brought new marketing concepts previously absent in Romania.



Property
The chains own over 400,000 m2 of total space (335,000 m2 leaseable) across more than 1,200 properties in over 25 cities in Romania. The properties range in size from 20 m2 single-tenant storefronts to 9,000 m2 stores that have been subdivided and repositioned as shopping centers. Most of the smaller properties are ground floor storefronts in high-traffic locations in city centers.

Status
Currently owned.


For more information please contact:
Vanessa Koury
(212) 641-3220
vanessa@nchcapital.com
NCH Capital Inc. 452 Fifth Avenue, 24th Floor New York, NY 10018