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GE announces Romanian warehouse joint venture
Real Estate Weekly, July 11, 2007
Tags: General Electric Co.
GE Real Estate Central & Eastern Europe and Helios Phoenix have announced the creation of a joint venture to undertake $235 million of distribution warehouse developments throughout Romania.
The transaction represents GE Real Estate's first entry into the Romanian real estate market.
The joint venture will initially develop seven Class A logistics and distribution warehouses, totalling 315,000 sqm located in the largest cities of Romania, with close access to highways and major roads, and with some located in the proximity of airports.
The first projects, to be undertaken on a speculative basis, will be in Bucharest, Timisoara, Constanta, Brasov and Cluj.
COPYRIGHT 2007 Hagedorn Publication
COPYRIGHT 2008 Gale, Cengage Learning
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