Business Forum • 31 May, 2024 at 10:32 AM
Kinstellar is delighted to announced that it has advised Globalworth, a leading office investor in Central and Eastern Europe (CEE), on the sale of a part of its logistics portfolio to CTP, the largest owner and developer of logistic and industrial spaces by gross leasable area in CEE. The transaction was signed in March 2024 with closing having occurred in May 2024.
This transaction is the largest real estate deal in Romania in 2024 so far. The portfolio comprises almost fully-let logistics and light-industrial facilities in Chitila and Afumati (near Bucharest), Oarja (near Pitesti), Giarmata (near Timisioara), Oradea and Arad.
Kinstellar advised on all transactional matters, including drafting, negotiation and execution of the transaction documents, as well as all ancillary matters. The transaction required considerable resources and expertise, and highlights Kinstellar's strengths.
We are all thrilled for our client. After much work and marathon negotiating sessions, this deal got across the line! My deepest gratitude goes out to the teams on both sides for a focused effort. Victor Constantinescu, Bucharest Managing Partner and Head of Real Estate
The transaction was led from Kinstellar's side by Counsel Catalin Dinu with the support of Managing Partner Victor Constantinescu and Special Counsel Claudia Popescu.
Nestor Nestor Diculescu Kingston Petersen (NNDKP) has assisted CTP, Europe's largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), in acquiring the logistics portfolio fully owned by Globalworth.