In one of the largest industrial & logistic land transactions to date in 2019, Afin Holding acquired Aries Logistic Park in Turda, located near Cluj-Napoca for an undisclosed amount. The project, only partially developed, includes almost 60 hectares of land available for further development. Colliers International was the real estate agent on this transaction whilst Moroianu & Associatii acted as legal advisor to the buyer side.
“Being at the crossroad of Romania we consider Turda an ideal venue for industrial and logistics assets and very much look forward to developing this site. We plan to immediately start the construction of 20.000 sqm of prime logistics warehouses to be leased as well as a 5.000 sqm extension for an existing tenant. Given the large amount of available land for development we are also actively seeking new built to suit projects and initial talks are ongoing with several interested parties. We remain grateful to all the parties involved for generating this opportunity and the professional support granted in all phases of this complex transaction,” Stefano Albarosa, Partner at Afin Holding said.
“We are pleased about the successful disposal of Aries Industrial & Logistic Park on behalf of our client and we are looking forward to the continuation of the development of this park by Afin Holding/AIC Real Estate to the benefit of the Romanian market and the positive impact on the local economy and community in Turda and Cluj county,” Robert Miklo, Director of Investment Services at Colliers International added.
Afin Holding, controlled by the Albarosa family, has been investing in Romania since 1995 and currently holds several participations in the automotive, real estate and industrial sectors. Its real estate division, AIC RE is one of the leading developers of industrial and logistics assets with a track record of more than 800,000 sqm built, leased and sold to date to several strategic and financial investors. The group employs more than 500 people in Romania.
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