UK-listed Globalworth Real Estate Investments, a major investor in Romania, has purchased a logistics property located near Pitesti from Elgan Group for €42.5 mln.
The 68,000 m2 warehouse, which is leased to Dacia, part of the Renault Group, has a land plot supporting a further 40,000 m2 of development.
Colliers International advised Israeli investor Simon Roth's Elgan Group on the disposal.
'For Elgan Group, this is the first significant exit in Romania, and what is more, the group is looking at new developments,' commented Robert Miklo, associate director within investment services at Colliers. 'Through this acquisition, Globalworth expands its storage and logistics centres portfolio in Romania, after the acquisition of TAP park in Timisoara.'
While 2015 remains a reference year for industrial transactions in Romania, when deals reached a record volume of €300 mln, Colliers said that the outlook for 2017 was positive.
The deal, Miklo noted, follows 'shortly after GIC, the sovereign wealth fund, entered the local market by purchasing the P3 platform, underlining the existing interest for this type of product in Romania'.
Elgan Group has developed several similar projects in the region, including a number of logistics facilities in Hungary.
