September 2021 – Kinstellar is delighted to announce that it advised the joint venture of Element Industrial, the industrial division of leading Romanian property developer, Ionut Dumitrescu, and Dedeman, Romania’s largest retail company - DIY stores - active in the field of construction materials and design, on the successful sale of Eli Park 1 to Fortress, one of the largest real estate investments trusts (REITs) in South Africa.
Eli Park 1 is a Class A industrial park with a total area of 50,000 sqm, located in the newest logistics hub in Bucharest north-west, Buftea – Chitila.
The transaction team was led by Alexandru Mocănescu, Counsel, with the support of Victor Constantinescu, Managing Partner, Bucharest, and Co-head of the firm-wide real estate sector.
Victor adds: “A great deal from so many angles: a successful joint venture, very resilient parties that kept the deal alive during the pandemic, and a new player on the logistics market in Romania. Happy to see this closed, and is the latest deal in a long list of logistics transactions that Kinstellar Bucharest has been involved in. Congratulations to all.”