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Drakopoulos and Reed Smith Advise SPDI on Acquisition of Logistics Park in Romania

properties.immofinanz.com

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The Drakopoulos Law Firm and Reed Smith advised Secure Property Development and Investment on a EUR 12.5 million acquisition of the Innovations Logistics Park in Bucharest.

The deal involved Romania, Cyprus, and the United Kingdom. It is SPDI's first acquisition outside Ukraine, and is the first step in the company's plan to grow and diversify its portfolio across South Eastern Europe.

The Innovations Logistics Park is a fully-let 17,000 square meter gross leasable area logistics park located in Clinceni in Bucharest, which benefits from being on the Bucharest ring road. Nestle is anchor tenant, with more than 60% of the gross leasable area. The acquisition is expected to increase the SPDI's annual net operating income by over 60%.

Drakopoulos assisted SPDI in Romania and Cyprus, while Reed Smith advised the company in the UK.