Cushman & Wakefield Echinox assisted MAS PLC
a leading property investor and operator in Central and Eastern Europe (CEE)
in the sale process of the strip malls portfolio in Romania to M Core Group
The portfolio consists of 7 assets with a total GLA of approximately 32,000 sq
The properties are positioned in densely populated areas next to Kaufland stores
have an occupancy rate of 100% and feature a mix of national and international tenants
Cushman & Wakefield Echinox provided strategic advisory services and transaction support
the project being coordinated by Cristi Moga
M Core Group was assisted during the process by CMS Cameron McKenna
Cushman & Wakefield Echinox: “This transaction reconfirms the recovery trend of Romania’s investment market
with retail sector being acknowledged as a healthy and secure asset class
The quality of the portfolio was consequential for the transaction
while the professionalism of the parties involved significantly eased the process.”
Cushman & Wakefield Echinox: “As the macroeconomic environment and consumers’ behaviour stabilizes
This shift has sparked heightened interest in Romania from both current investors seeking to expand their portfolios and newcomers
Romania presents considerable growth potential across all sectors
This recent transaction serves as a strong indicator of the retail market’s resilience
and the overall positive sentiment among investors.”
is a property investor and operator listed on the main board of the Johannesburg Stock Exchange and with a secondary listing on A2X Limited
The Group is operated by a multidisciplinary team of approximately 270 professionals with investment
MAS aims to maximise total long-term shareholder returns via its investments in directly owned income property and other income-producing investments in CEE and indirectly
in developments via preferred equity in a development joint venture with co-investor
developer and general contractor Prime Kapital
highly profitable collective of property investment and management companies operating in the United Kingdom
M Core’s portfolio value exceeds 6bn pounds
Evolve and Square 7 as local partner for Romanian portfolio
Did you find any incorrect or incomplete information? Please, let us know
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By Jonathan Lee
In scenes which should have been relegated to the early twentieth century
Roma in Romania were forced out of their burning home on Friday 31st March after non-Roma decided to ‘teach them a lesson’
Romani families were dragged from their homes in five locations and then beaten before the baying crowd before their houses were set alight
The police chief inspectorate had to set up safety cordon by 11pm and joint patrols of police and gendarmes were ordered to prevent the escalation of any conflict in the town
The authorities say they have not ruled out the possibility of more violence occurring
and the county police commander has assigned gendarmerie to provide constant surveillance of the neighbourhoods where Romani families live.
In the aftermath of the attack, the mayor Zoltán Nagy could barely conceal his prejudices and pseudo-justifications for the pogrom in his city. He has said 'he regrets' the 'unpleasant' situation brought about by Romani aggression, and describes the theft which triggered the attack as ‘a last straw’
is a consequence of local Roma regularly begging
sending their children to steal and even making one city shopping centre a ‘place of terror’
Rather than take direct action in calling out this hate crime for what it is
the mayor has not only issued bureaucratic bluster to cover his own prejudice
he has announced a 'public forum' in the next few days in the city to seek a solution to the problems raised by the events and the citizens of the municipality.
“The Hungarians wanted to teach these Roma a lesson” said a local source to HotNews.ro
But seems obvious that the lessons of Harghita’s history of pogroms against Roma have been conveniently forgotten in Gheorgheni
Firecrews survey the damage the day after the arson attack (Image: Szatmar.ro)
Similar violence against Roma has erupted in recent years in other villages in Harghita
Hungarians took exception to Roma illegally grazing their animals in 2009 by burning down three houses
and forcing 60 Roma to flee the settlement
A month later in the nearby village of Sâncrăieni
a Romani man injured a Hungarian in a pub fight
Once again a mob arrived in the Romani neighbourhood and burned down the Romani man’s barn where he kept his horses
Yet these events follow a pattern set by the county’s sordid recent history of near identical hate crimes involving angry mobs of racist villagers
In Romania's dark theatre of anti-Roma pogroms
rape and mob-justice which swept the country in the 1990’s
Harghita County has its own shameful part to play
a mob of villagers burned down 29 Romani houses in Caşinul Nou while local authorities did nothing to protect the Roma inhabitants
four Romani men beat a security guard in Plǎieşii de Sus
a mob descended on two innocent old Romani men
Two days later a warning sign appeared on the outskirts of the settlement where the houses of the Roma families stood
informing the inhabitants that on Sunday 9th
The Roma went to both the police and the village municipality
cut the electricity and telephone connections to the Romani settlement and set all 28 of the houses on fire
Prosecutor have systematically delayed investigation of incidents that occurred during this period to allow enough time to pass so that the cases could be dropped. In February 1994, Maria Rus, Chief Prosecutor of Harghita County stated:
“The investigation of cases lasts until the cases can be dropped
then take them from here because we are fed up with all this.”
The ERRC is investigating the most recent case in Gheorgheni and monitoring the response of the authorities, bearing in mind the inadequate history of official investigations into pogroms against Roma. There are already accusations that authorities tried to supress the pogrom from news coverage
It seems only fair to highlight that the fast reaction of local police in Gheorgheni no doubt saved further damage being done to Romani homes
and stopped Roma from being driven out of yet another Hungarian village in Harghita County
the events in the days leading up to this attack should have been obvious warning signs for the authorities and police who have seen this happen all too often in the county and across Romania
Perhaps the police would be more of an expert in dealing with anti-Roma lynch mobs
if not for the fact that they have a history of condoning and participating in them.
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The most expensive neighborhood in Romania is Bucharest’s Kiseleff-Aviatorilor
four of the the five most expensive neighborhoods in Romania are in Bucharest
with prices between EUR 1,720/sqm and EUR 2580/sqm
The most expensive neighborhoods in Bucharest
Aviatiei with EUR 1,870/sqm and Unirii with EUR 1,720/sqm
In Cluj-Napoca, where the average asking price is the highest in Romania, the most expensive neighborhood is the ultracentral area with a price of EUR 1,720/sqm, followed by Plopilor, with EUR 1,720/sqm, Gheorgheni and Andrei Muresanu, with EUR 1,600/sqm, Marasti, Intre Lacuri, Aurel Vlaicu, with EUR 1,560/sqm and Zorilor with EUR 1,540/sqm.
has as its most expensive neighborhoods the Ultracentral
with a price of EUR 1,490/sqm followed by Central
Take Ionescu and Piata Maria with EUR 1,260/sqm
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They started out from the Transylvanian town of Gheorgheni (Gyergyószentmiklós
17,000) in 2013 and in 2020 all tickets for their Budapest concert for 10,000 were sold out months in advance
Despite the ‘impudent’ youth of Norbert and László Bagossy
founders of the five-member Bagossy Brothers Company – along with Szilárd Bartis
Zsombor Kozma and Attila Tatár – they live their success story with remarkable wisdom.
Norbert: “Very well would be a more precise formulation although Laci certainly remembers times when I didn’t let him play on the computer because as the older one
at 14 the two-year age gap appeared a lot but before or after this
László: “We also started playing music together
in which he made it to the ‘escape from the backflip’ trick
Then we checked out dancing but even then he was not attracted to simple ballroom but rather break dance.”
To start off we tried to play familiar solos on acoustic guitar by ear
We were mainly influenced by English language music from the 2000s
“Then a friend showed us how to play chords and a new world opened up
We learnt eight or so a day from the internet
our fingers were all blistered but we felt we had to do it
“We also went to a guitar class with philosophy teacher László György
This kind of musical upbringing defined our tastes”
we left home at sunrise and only returned home at sunset.”
At the beginning we were thinking of a band
When we got our first guitar from our mother and her sibling
We installed them in the first floor apartment and to the delight of the neighbours we started rehearsing
We knew even then that I would be the bass guitarist
even though at the time we didn’t have a bass guitar.”
Norbert: “And even then we were writing our own songs at a time when we couldn’t play the music of other bands properly!”
László: “The first song Norbi wrote was titled Big Adventure
László: “We thought that musical skills could be learnt so that ‘finding common ground’
We thought that we would grow into everything else and this is how it worked out.”
“This was important because we spent more time together than with our families
We look after each other and back each other up.”
and both of us were storemen in a drinks depot
he has been a waiter on cruise ships and run a tourist office
Szilárd worked with Laci in a workshop making organ pipes
is the only one who has a paper saying he is a musician
and he still gives private lessons to students to this day
When we decided to invest even more energy into the band
I was the first to resign from my job on a now-or-never basis.”
You spent 18 month to two years in Transylvania picking up experience in music
living the real rock n’ roll life like you see in the films
The five of us travelled around in a packed estate car
We called up pubs and radio stations to see whether they would allow us to play or air our songs
Zsombi joined when we were looking for a keyboard player but his instrument wouldn’t fit in the car
but that resulted in audio feedback everywhere
and it has now become the band’s trademark.”
Norbert: “We didn’t want to appear on the market without quality material so as part of the Cseh Tamás Programme we cut our first disc and arrived in Hungary with it
where we had to start everything all over again
It didn’t matter that we had played to 2000 people at home when here we had an audience of max
we had more than 100 concerts under our belt by then
Virtually every week we drove the 750 km from Gyergyószentmiklós to Budapest in a way that the bass guitar lay like a table in the laps of the three people sitting in the back
The drums were packed into each other but as the car got bigger
What sort of reception did you get in the mother country as Transylvanians
László: “We never did anything so as to be treated as Transylvanians
things that are part of our system of values that we are proud to advocate
but we don’t want to make anything out of the fact that we come from beyond the border
“It is particularly good that our first song didn’t get a great reception straight away
so a single hit didn’t place pressure on us.”
Where do you draw inspiration for Bagossy songs
Norbert: “Generally I write the lyrics and melody by myself and if I consider it good enough I show Laci who puts together the scoring
he senses what the song needs and what else I conceived in it.”
László: “Obviously we draw inspiration from foreign productions because the British and American benchmark will always be the benchmark
Sometimes Norbi tells me to check out the solutions used in
the latest number by Shawn Mendes and I understand what he is talking about
but our final result will still be completely different
You can’t integrate something without making it specific.”
Norbert: “The Hungarian language itself is special
prolongation of the vowels is not my thing therefore I pack more syllables into the lines than a foreign band
There is far more emotion in our songs than speculation
although we like experimenting and obviously our taste shifts as things go along.”
I suspect that after a while you had to relocate your base to Budapest
a year ago that it hadn’t even struck us that we were already living in Hungary
I reckon we will be dual residents for the rest of our lives.”
László: “At the beginning we didn’t think we could live in Budapest
after all we come from a small town and the contrast was huge
has a memory or experience and this makes it feel like home
This is home here and that is home there as well
When we go back home we value the silence
when we come back a whole ton of opportunities open up again
“They are pleased about our success and in our case it is perhaps not true that you cannot be a prophet in your own land
We owe a debt of gratitude to those people there and the fact that we have only about 15% of our concerts there is how it worked out given the distribution of Hungarians.”
you recently shot a clip in your homeland as part of the Road Movie project…
Norbert: “This is the first time we wrote a song to commission
We show the country at home so that it is not in summer
but in a part of the year when we receive a little warmth yet one can feel it is cold
As the lyrics put it: ‘winter is warm when heated from home’
It is possible to scratch one’s head about whether a man can become a wolf or not because we left the end of the clip open
giving space for the viewer and audience to think further.”
Norbert: “We were all brought up in the mountains
The point is to withdraw to an environment where we can hide a bit from the world.”
What has changed in you now that tens of thousands are following you
László: “It places responsibility on our shoulders because it matters how we use the enormous attention that has been directed towards us
Among your merchandise there are ‘green gifts’ and you will have a tree-planting scheme as well
How else would you like to influence people
We will never forget the musical evenings in our childhood which were followed by conversations frequently lasting late into the night
These stirred in us empathy towards the thoughts of others
We apparently talked philosophically about nothing but we still got closer to something through this
I believe that the songs are also like a conversation
then you put them in your pocket and take them out later and they already say something different to you
These sorts of ‘conversations’ can bring about huge development emotionally
And this is not only relevant for our music but for music in general
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many of us face the challenge of finding a good recipe for the popular Christmas sweet
the 'beigli': a roll filled with walnut or poppy seed
two good friends” – goes the saying and it is not a simple cliché but a soul-to-soul reality
Champion of the 1958 Hungarian Women's Chess Championship
/ and my father watched like a god / what his wits and blood could do" – wrote
Many people may have been surprised to hear the name of Dr Edit Madas among the 2024 Széchenyi Prize laureates
I have taken 30-40 friends of mine to Transylvania(in Hungarian: Erdély)
I have made them try the chimney cake in Bălăușeri
the cabbage in the Laci Tavern in Târgu Mureș (Marosvásárhely)
the “csorba soup” in Odorheiu (Székelyudvarhely) in the Pethő Restaurant and
I have told them about the feeling of “togetherness” that will capture every visitor from Hungary
I had to select from among the must-see sights for the 5-day-trip. If we listed every touristic offer of Transylvania, we would fill up several Tropical magazines
The Pentecostal Blessings of Șumuleu Ciucare (Csobotfalva) already have scheduled pilgrim trains now
the dance festival in Izvoru Crişului (Kőrösfő) are all great experiences for the participants
Many people ask me whether I am afraid of the bears
but I have taken several photos and videos about them
They are frequently around Lake Saint Anne (Szent Anna tó) but it is advisable to book a guided bear watching
which is some kind of a Transylvanian safari
When I was asked some years ago to make a touristic conception plan for the city of Gheorgheni I had no idea how many wonders this little city was hiding
after a lot of official and private visits
the churches that can already be visited with organized tours
many churches testify of the importance of faith among the people here
Many religions and denominations left their marks on Gheorgheni’s culture
Armenian Catholics and Jews lived here together in peace
there are some real specialties to discover
hundreds of years old clothes are hidden in the cabinets
At the place of the Roman Catholic church there was once an old Gothic church
The old synagogue talks about the tragedy of the Jewish who used to live here
In the approximately three-hour church tour
even the relatively new Orthodox church can be visited
and Jewish traders were here even in the 13th century
The inhabitants of the city created relative prosperity with the production of wood
the churches and the old-fashioned buildings give everyone the temptation to walk around either in the winter or the summer
All this is framed by the wonderful natural surroundings
which is a popular place for excursions with its special plant collection
We can find out here that local girls and women have woven special messages and information into the patterns of their clothing
Those who knew what the secret marks said could tell by clothes of a person whether she was married
All these miracles can be seen in the city museum today where the attire and lifestyles of all the nationalities lived here can be seen in the showrooms
Gheorgheni celebrates its name with exciting programs on 6th of December
The St Nicholas fair is a real rarity and you should visit it at this time
you have to dress warmly as the nearby Cheile Bicazului (Békás szoros) is Romania’s coldest area during winter
Even some of those Himalayan expeditioners come here to prepare for the terrible colds
a good kind of blueberry pálinka can warm you up or hot chocolate in the café
Odorheiu Secuiesc usually is the best liked by the people I take to all of my favourite places
One of the most beautiful monuments in the city is on the main square
the town hall built in 1896 in eclectic style
The millennium memorial column is erected in the middle of the main square
The 8.4-meter-high obelisk was demolished in 1919 but was later restored
Going further towards the Hotel Küküllő-Târnava
you can see the Statue Hall of Remembrance
there are 13 bronze statues of famous people
Walking in the city centre you will understand why many people like Székely land
Țara Călatei’s dream land is a reality till the present day
you can taste the fairy tales a bit in Huedin
as you do not know what to make of the many of Roma palaces here
Five kilometres from here you can find the most well-known city of the region
next to a magnificent reformed church from the 13th century
it’s never too late for to have hot chicken soup or any of the tasty cuisine of the Țara Călatei region
there is some good pálinka besides the warm welcoming words
The people living here since the conquest of the Pannonian Basin
when the Kalota tribe settled in fifty villages
Sâncraiu with 1200 inhabitants is one of the most important settlements in the legendary countryside where Hungarian folk traditions still flourish
Everyone wears a distinctive folk costume on feast days and when the bell of the ancient church with the wooden coffered ceiling rings
many respect the old custom: men and women
lads and lasses sit in separate places and also enter the house of God through separate entrances
The bell means more than in another church since in the storm of history
the fortress church often gave shelter to local Hungarians
This is evidenced by the bell in the garden which was cast in 1481
and whose sound disappeared when the church burned down
In summer the water is splashing in the garden fountain while they bring my favourite dish
Then comes the walk through the central square
Once 70% of the residents of Târgu Mureş was Hungarian
the restaurant order is understood by everyone
The town lies at the junction of three geographical areas (Transylvanian Plain
The highest point of the city is not far from the city centre
there is also a superb zoo with a small railway station
The most exciting sight is the two famous downtown Art Nouveau buildings
the Public Administration Palace and the Palace of Culture
The roof of the culture centre is covered with blue
red and white tiles made by the famous Zsolnay factory
Anna Lake is the only crater of volcanic remains in southeast Europe that remained intact
Although we will go downhill upon visiting the lake
we will still be 950 meters above sea level
Its bottom is gravel and does not deepen quickly although its average water depth is 4 meters
its water supply is provided by the spring when snow melts from the surrounding mountains
On the northern shore of the lake the accretion has started
its bottom is covered with a thick sludge layer
where each year Anna’s Day is celebrated with masses of Catholics going on a pilgrimage
Many people take a grill and make delicacies on the meadows of the lakeside forest
Anne’s Lake was a high mountain with a castle on top
There were two siblings living in the two castles who were constantly competing with each other
The brother living on the Bálványos Hill once won from one of his guests a beautiful carriage carved with gold and silver and diamonds
The other brother was very jealous and envious of the carriage
and they made a bet that he would get a different carriage within a day with not six
He ordered the most beautiful girls in the area to his castle
It did not take half a day and hundreds of girls gathered together
among them the most beautiful was a girl named Anna
the castle sank and in its place a beautiful lake was created
Transylvania’s landscapes have many legends
Source: by Róbert Richard KISS – Tropical Magazine
It’s a rare sight to see a hungarian actually using the official romanian names in english
and website in this browser for the next time I comment
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