Red gets financing for Romanian mall from Immorent

The developer Red, backed by Warburg Pincus and the Spanish investment fund GED Group, has secured financing for its Cadran shopping center in Husi. The €8m financing from Immorent Romania will enable the 4,500 sqm of construction, including 120 parking places and 20 store units. The anchor tenant for the scheme, due for completion in June 2010,  is Penny Market. Red is targeting towns of between 25,000 and 75,000 inhabitants for a series of Cadran centers across Romania.

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