Globalworth Real Estate Investments has raised €200m from South African REIT Growthpoint Properties and US firm Oak Hill Advisors.

Globalworth, which focuses on real estate in central and eastern Europe, said Growthpoint will own a 26.9% stake in Globalworth.

Funds raised from the subscription will be used to develop its Globalworth Campus project in Bucharest, Romania and pursue further investments. Globalworth has a particular focus on the Romanian market.

Ioannis Papalekas, founder and chief executive of Globalworth, said: “Not only does [the capital raise] provide us with a significant capital injection, allowing us to fully develop the Globalworth Campus project and pursue attractive pre-identified investment opportunities, but it will also enable Globalworth to draw on a deeper pool of equity and access alternative and potentially more cost-effective sources of capital to support future growth.

“We expect to benefit from Growthpoint’s significant institutional-investor following and large and diversified shareholder base.”

Papalekas said the capital strengthens and diversifies Globalworth’s investor base.