The transaction was brokered by JLL which acted on behalf of the seller. JLL did not disclose the name of the buyer, but sources on the real estate market told MEDIAFAX that Czech company CTP, which in 2007 targeted to develop more logistics parks in Romania, had bought the park from Heitman.
Mercury Logistics Park is located within the main logistics and distribution corridor of Romania, West of Bucharest, at km 23 of the A1 highway. The scheme comprises 3 existing units totaling approximately 34,000m² and nearly 11.58 hectares of land. Mercury Logistics Park is anchored by Dumagas Transport, Tibbett Logistics and Rhenus Logistics, JLL said in a statement.
Mercury Logistic Park is the only project developed and managed by Heitman in Romania.
“The sale of Mercury Logistics Park is the second significant industrial transaction in Romania in the last 6 months. JLL also successfully closed the record acquisition of Europolis Park by P3. This clearly shows the increasing appetite of investors for prominent logistics / industrial assets in Romania. This is another significant deal that underscores our Capital Markets expertise and strength in promoting Romania. It also confirms JLL’s dominant position in industrial and logistics capital markets across CEE,” said Troy Javaher, EMEA Capital Markets Team’s Lead Director for CEE at JLL.
“We have had a strategic partnership with JLL in Romania for more than 10 years, as well as in CEE and the broader European markets. We appreciate JLL’s good work on this transaction,” said Ronan O’Donoghue, Head of Portfolfio Management of Heitman.
CTP is one of the leading developers and administrators of industrial parks in Central and Eastern Europe (CEE), with a portfolio of nearly 2.5 million square meters and rental income of EUR120 million. The company announced in 2007 that it was planning to develop 1 million sqm of industrial parks in Romania. To this end, it had bought lands totaling 60 hectares in Bors (Bihor County), Pitesti (Arges County) and Turda (Cluj County). Subsequently, it said it would not start any projects in Romania on lack of tenants.
JLL is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate.
Heitman is a global real estate investment management firm with $32.3 billion in assets under management. They are an active participant in the three core segments of the global real estate property and capital markets.