The logistical park has a total surface of 56.5 hectares, of which 12,000 square meters include constructions. The park’s biggest tenant is Sarantis Group, one of the largest importers of cosmetics in Romania.
MLP Bucharest Sud was built in 2010 by Polish Millennium Logistic Parks Group. MLP Bucharest Sud entered insolvency in April 2013 and was declared bankrupt in October 2013.
Its biggest creditor is lender Alpha Bank, which has to recover RON105 million (EUR23.8 million) from the developer, 72.5% of the bankrupt company’s debts, Euro Insol said in a press release Friday.
AGI-RRE Hera, the logistical park’s buyer, is a Greek company part of Alpha Bank group.
“This deal lays the groundwork for sustainable development of a large project such as MLP Bucharest Sud. AGI-RRE Hera has the power, determination and interest to develop the project to its full potential. Only 10% of the project is currently completed,” said Remus Borza, managing partner of Euro Insol.