Popovici, Nitu, Stoica & Asociatii has advised Belgian developer VGP Parks on the acquisition of 40 hectares of real estate in the Western Romanian city of Arad from an unnamed seller.
According to PNSA, VGP Parks intends to develop a real estate project on the property, "with a potential of approximately 200,000 square meters of industrial/logistics leasable area."
VGP Parks is a developer of logistics spaces and industrial parks with a presence in Germany and Central and Eastern Europe and also specializes in both in the acquisition and development of industrial/logistics projects and in their lease and management. According to PNSA, “in Romania, VGP owns two operating parks: VGP Park Timisoara and VGP Park Sibiu.”
The Popovici, Nitu, Stoica & Asociatii team included Partners Bogdan Stoica, Ioana Sampek, Alexandru Ambrozie, and Irina Ivanciu, Managing Associate Ramona Pentilescu, and Associate Veronica Culcea.
Popovici, Nitu, Stoica & Asociatii was unable to provide further details.