EnglishAustrian investment fund Immoeast yesterday announced the conclusion of an agreement with the European Future Group (EFG) to build eight - to - ten logistic centers in Romania, on a total budget of some 300 million EUR.
According to Immoeast, the centers will have a leasable surface between 400,000 and 500,000 square meters. The investment fund is having talks with a well-known logistic company to invite them as anchor tenant to the new space. Immoeast and EFG have already acquired some 105,000 sq.m. meters of logistic space in the Astra Industrial Park.
Pantelimon Warehouse, under construction, will have a leasable surface of over 50,000 sq.m. The first phase will measure 18,000 sq.m. and will be ready by the year end. The investment will stand at 35 million EUR. Jandarmeriei Office and Rezidential amount to 130 million EUR and are also developed by Immoeast and EFG.
The Immoeast portfolio in Romania amounts to 103 pieces of property measuring some 3.4 million sq.m. Romanian properties account for a fifth of the Immoeast portfolio. The fund"s budget for 2007 - 2008 is 6 billion EUR. The Romanian budget until 2010 is 731 million EUR.
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