Garbe Industrial and Fortress Real Estate Investments have teamed up to develop a 61,000sqm logistics centre in Bucharest, Romania.
The partnership’s initial investment, an 11ha land plot acquired last month, will be developed into the logistics facility with works commencing in the third quarter of this year.
The project represents Garber Industrial’s first development in the Romanian market. For Fortress Real Estate Investments, it represents its second major deal in the country, following the 2021 acquisition of Fortress Logistics Park Bucharest.
Bartosz Klimek, leasing and asset director Europe at Fortress Real Estate Investments, said: “Romania stands out as one of the most attractive long-term markets globally for logistics and warehousing investment, underpinned by strong industrial and consumer growth potential and its close links to Central and Western Europe. As the sector continues to mature, there remains significant room for institutional-grade development and investment.
“We will remain selective, focusing on expanding our high-quality warehouse portfolio according to our strategy across Central and Eastern Europe in the years ahead.”
Andrei Jerca, country head for Garbe Industrial Real Estate Romania, said: “We are happy that we will develop the first project in Romania, at the high standards we have implemented in the CEE region, together with South Africa’s largest logistics investor, which values our longstanding track record and development strategy.
“This partnership reinforces Bucharest’s position as a key logistics hub and underlines Romania’s growing role as a strategic logistics market within the region.”
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