EnglishEuropean Fund Manager Teesland iOG --- which operates for the Central European Industrial Fund (CEIF) concluded on April 25, 2007 a purchase agreement with the developer Cefin Real Estate Romania to acquire the Industrial Park A1. The project will be jointly developed by the two parties until its completion planned for 2009.
Cefin Holding informed that that they will continue to be the exclusive developer for the project up to its completion.
The contract has a value of over 70 million Euro and represents the biggest real estate industrial transaction in Bucharest and the first investment of Teesland iOG in Romania.
Teesland iOG" concept is to target small and medium companies by providing them with high quality modern industrial space. In this respect, Industrial Park A1 is a premiere in Romania.
Industrial Park A1 can offer spaces down to 500 sqm, which incorporate warehousing and utilities.
In the first phase the Industrial Park will cover 80,000 sqm, including 54,000 sqm of warehousing space, over 17,000 sqm of office space and 9,000 sqm of commercial areas and parking lots.
D&B David si Baias and Landwell Hungary provided legal advice to Teesland iOG while Biris Goran acted as legal advisor for Cefin.
Colliers International and Eurisko have acted as real estate consultants.
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