The firm, which is listed on the JSE, Euronext Amsterdam and the A2X in Joburg, said yesterday the final consideration would be determined at the completion of the deal.
The company last month said it intended to sell the Romanian office portfolio in line with a strategy to use the proceeds to fund acquisitions and developments.
The Romanian office portfolio, with a book value of 308m, comprises Floreasca Business Park, The Lakeview and Victoria Office in Bucharest, and City Business Centre in Timisoara.
The properties were fair valued by independent valuers DTZ (Cushman & Wakefield Affiliate Partners). Nepo said the net operating income attributable to the Romanian office portfolio came to 11.8m for the six months ended June 30.