Austrian real estate developer Immofinanz will put up for the sale the property Armonia in Arad, western Romania.

The place had operated as a shopping center until 2012, when it was transformed into a logistics and industrial center under the Log Center Arad name.

Last year, Immofinanz announced that it would sell its entire logistics portfolio to the US company Blackstone. Armonia remained the only asset outside the area of interest of the Austrian group on this segment.

“Armonia Arad is not part of the main portfolio of Immofinanz, reason why we will sell it,” according to company representatives, cited by local Ziarul Financiar.

The car cable producer Leoni Wiring Systems has occupied some 8,000 sqm in the Armonia center, namely about a third of its total surface.

editor@romania-insider.com