South African investment fund Fortress, which owns 23% of NEPI-Rockcastle already active on the Romanian real estate market, is close to acquiring ELI Park 1 logistics park in Chitila.

According to sources in the real estate market, local companies Element Industrial and Dedeman, which jointly developed the logistics park, are in advanced talks to sell the project to the South African investment fund, Ziarul Financiar reported.

Fortress is the largest shareholder of NEPI-Rockcastle, the leading owner of malls and shopping centers in Romania. Moreover, Fortress CEO Steven Brown is also a non-executive director at NEPI-Rockcastle.

The logistics park Eli Park 1 is located north of Bucharest, 4 km away from the ring road, and has direct access to a four-lane national road, DN 7. Several public transport lines connect it to the city.

Appliance producer Arctic has established its distribution center in Eli Park 1, occupying 20,000 sqm.

andrei@romania-insider.com

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