Catalyst Capital, the pan-European investment, asset management and development group, has acquired nine distribution and logistics units totalling 54,200 m[sup]2[/sup] from Italian company Incontro Prefabbricati for EUR 25mln on behalf of the WCC Europe Fund. The units are located in Arad and Timisoara, Western Romania.
Catalyst Capital, the pan-European investment, asset management and development group, has acquired nine distribution and logistics units totalling 54,200 m2 from Italian company Incontro Prefabbricati for EUR 25mln on behalf of the WCC Europe Fund. The units are located in Arad and Timisoara, Western Romania.
Major tenants include Pepsi, French group FM logistics, the aluminium conglomerate Acloa and Vitafoam, part of the Vita group. The estimated yield for the investment is 8%. The units currently generate an annual net rent of about EUR 2mln.
Charles Baigler, emerging markets acquisitions director at Catalyst Capital, said; 'This purchase takes our assets under management in CEE to over EUR 120 mln including those in Poland, Hungary and Romania. On the back of this purchase we are expanding our CEE operations to take advantage of the continued significant growth in the region. We are seeking further opportunities of this kind throughout CEE and the rest of Europe.'
