South African investment fund Fortress is reportedly considering the option to take over the logistics portfolio of Globalworth in Romania, estimated at EUR 250-300 million, according to sources familiar with the local real estate market quoted by Ziarul Financiar.

This would be the largest transaction ever signed in the local logistics and industrial sector. The previous record dates back to 2015, when P3 bought Europolis Park from CA Immo for EUR 120 million.

Fortress already owns 23% of NEPI-Rockcastle, the largest developer of malls and shopping centres in Romania. It entered the local logistics market in 2021 by acquiring the new ELI Park 1 project near Bucharest (50,000 sqm) from Element Industrial/Paval Holding in a transaction of approximately EUR 30 million.

Globalworth estimated its portfolio at EUR 258 million at the end of 2022, but it added two more projects since then.

iulian@romania-insider.com

(Photo source: Matusciac/Dreamstime.com)