Dentons advises on a major deal in the logistics sector in Romania

Dentons acted as legal counsel to P3, developer and manager of European logistics properties, on the acquisition of a portfolio of three logistics parks, two of which are located in Poland and one in Romania, from CA Immobilien Anlagen AG.

2014-10-21 16:27:37

The portfolio totals 467,000 sqm. of lettable area. The transaction also includes approximately 165 hectares of land, principally in Poland and Romania.

The Bucharest Park is the largest of the three standing assets acquired by P3, consisting of 215,000 sqm. of almost fully occupied space and 40 ha. of land. It is a major center for logistics providers, due to its direct access to the A1 motorway heading westwards and the park's freight handling facilities as part of the pan-European rail corridor linking Dresden and Nuremberg to Istanbul. The park's location, on the city's principal ring road and its close proximity to central Bucharest, attracts both e-commerce tenants as well as multinationals such as Carrefour.

The Dentons team was composed of lawyers experienced in major real estate transactions and banking and finance, and was coordinated by Perry Zizzi, partner and head of banking and finance practice group, Laura Tiucă, local partner and co-head of the real estate practice and Raul Mihu, partner and head of the competition practice group.

Commenting on the transaction, Perry Zizzi said: "We are pleased to have helped P3 on its first acquisition in Romania. This transaction is yet another positive sign that the Romanian real estate market is recovering. Dentons continues to be uniquely placed to deliver unmatched expertise coupled with the pragmatic, commercial approach that is a signature of our firm."