In September 2021, Cushman & Wakefield Echinox announced that it had assisted South African investment fund Fortress REIT in the acquisition of ELI Park 1 logistics park in Buftea, Romania.
According to Cushman & Wakefield Echinox, this is the first investment in the industrial and logistics market made by Fortress REIT in Romania and it marks the direct entry of a new player on the local real estate market.
ELI Park 1 is located at a 4 kilometers distance from the Bucharest ring road and in the proximity of the future A0 highway, with direct access to DN 7 national road. The project comprises a total leasable area of 50,000 square meters and was completed between 2019 and 2020.
“We are glad that a major new investor has decided to enter the Romanian real estate market and we are honored to have assisted Fortress REIT in this transaction which demonstrates that the logistics sector keeps being attractive for investors,” said Cushman & Wakefield Echinox Senior Analyst Capital Markets Dan Spiru.
“Romania along with the Central and Eastern Europe (CEE) region is one of the most exciting long-term logistics and warehousing investment propositions globally due to the high industrial and consumer growth potential and close access to Western Europe,” added Fortress REIT CEO Steven Brown. “We are selective in our investments and intend to grow our high-quality warehouse portfolio across CEE in the coming years. We appreciated the local knowledge and guidance we received from Cushman & Wakefield team.”
