Equest Logistic Park is located at Km 13 on the A1 highway, the ground zero of the industrial logistic market in Romania.
The deal was signed at the beginning of March and the seller was advised by Reff & Associates.
Equest Logistic Park s an A class logistics property with a strong and consistent performance history, a multi-tenant warehouse complex located in the largest industrial sub-market in Romania. The property has had a stable portfolio of tenants throughout recent economic cycles, including important national and international online retailers, logistics and light-production companies, such as Garrett, Elmec Group, Hilti, BDG Group, and Telekom.
“This transaction reflects the continuing consolidation that we are seeing on the highly active industrial market. Leading investors are seeking to acquire assets that fit strategically well with their portfolio, reducing the fragmented ownership nature of the market,” said Tim Wilkinson, Partner Capital Markets at Cushman & Wakefield Echinox.
He added the transaction was closed during a very challenging period in terms of unprecedented disruption to normal work and social routines, which shows that the market is still active and that it will navigate difficult obstacles.
Cushman & Wakefield Echinox is a leading real estate consulting company in the local market, operating in all real estate market segments. The company’s Capital Markets department has been involved in 2019 in the processes of selling prime real estate assets in Romania with a market value of over EUR250 million.
“The transaction is proof that the logistics & industrial market has reached a level of liquidity that when an A class property is brought to market, the level of interest is strong from investors both active locally and looking to enter Romania. We expect the industrial investment market to strengthen even further and rapidly, as we move beyond the current challenges that we are facing,” said Dana Sava, Senior Consultant, Capital Markets Cushman & Wakefield Echinox.
CTP is the leading warehouse developer and manager in Romania, with a global lettable area of over 1.2 million sqm of Class A warehouses in ten cities: Arad, Bucharest, Cluj-Napoca, Deva, Pitești, Sibiu, Timișoara, Turda, Ineu and Salonta.