The transaction was announced in March but the value of the acquisition was not made public at that time. According to MEDIAFAX estimations, it reached between EUR10 million and EUR13 million.
Innovations is a fully-let 17,000 sqm gross leasable area logistics park located in Clinceni, on the Bucharest ring road. The anchor tenant is Nestle which leases more than 60% of the gross leasable area.
“This acquisition is expected to increase the company’s annual net operating income by over 60%,” the company said in a statement.
Cyprus-registered Secure Property Development & Investment was established in 2005, mainly focusing on Ukraine.