Industrial developer WDP has become the owner of a warehouse in Mioveni, near Pitești, following a sale-and-lease-back deal with SFC Solutions Automotive Romania, a producer of rubber profiles for the automotive sector.
The site spanning 20,000 sqm is located near the Renault Dacia factory, which is of the main customers of the tenant company. The investment in the project stands at €10 million, said WDP in a report.
"This type of transaction is evidence of the sustainability and maturity of the local industrial market. Sale-and-leaseback transactions offer significant opportunities for both entrepreneurs and real estate investors, resulting in a mutually beneficial scenario, providing liquidity and investment capital in exchange for long-term, leakage-free rental income," said Emilian Podaru MRICS, Head of Industrial & Logistics for Crosspoint, the agency that worked with the seller on this deal.
WDP has in Romania ongoing industrial developments with a leasable area of around 116,665 sqm, slated for delivery by the end of 2024. All projects are pre-leased and will be completed following an investment of around €92 million.
