Fortress, one of the largest real estate investments trusts in South Africa, signed the acquisition contract for ELI Park 1.
The class A industrial development, located in Buftea – Chitila area, is their first logistics acquisition in Romania.
ELI Park 1, a 50,000 sqm GLA class A park, is leased to tenants such as Arctic, Decor Floor, Dentotal, Euro Games Technology Romania, Kalapod, Mobilier 1, Novomatic, Paste Baneasa.
The project was developed in joint venture by Element Industrial and Paval Holding (founded by two Romanian entrepreneurs Dragos and Adrian Paval).
Element Industrial is working on several projects located in Bacău, Brăila, Ploiești or Pitești. The company’s focus is to develop 500,000 sqm by 2026.