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News from Members Dentons advised Fortress REIT on the Eli Park 1 acquisition

Dentons advised Fortress REIT on the Eli Park 1 acquisition

by Dentons September 21, 2021

Website www.dentons.com

Global law firm Dentons advised South-African investment trust Fortress REIT on its acquisition of Eli Park 1 industrial park, a new logistics hub located north-west of Bucharest.

ELI Park 1 is a 50,000 sqm class A logistics and industrial park, located 15 minutes away from Bucharest, in the Buftea – Chitila area. The Park is already being leased to tenants such as Arctic, Decor Floor, Dentotal, Euro Games Technology Romania, Kalapod, Mobilier 1, Novomatic and Paste Baneasa. ELI Park 1 was developed by Element Industrial, a joint-venture between investor Ionuţ Dumitrescu and Pavăl Holding, a private equity co-founded by Dedeman retail chain owners, Dragoş and Adrian Pavăl.

Fortress REIT Limited is a leading South African Real Estate Investment Trust (REIT) which specializes in developing, acquiring, and investing in state-of-the-art logistics real estate. The trust is also involved in retail properties focused on proximity and convenience, holding 21.76% shares in NEPI-Rockcastle, the largest Mall and retail center owner in Romania.

During the acquisition, Fortress REIT has been counseled by Bogdan Papandopol, Partner and Head of Dentons’ Global Real Estate Group in Bucharest, in coordination with Perry Zizzi, Managing Partner Dentons Romania.

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About Dentons

Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in 80 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic.

Dentons’ legal team in Bucharest, under the leadership of Managing Partner Perry Zizzi, provides its clients with a results-oriented approach and efficient legal solutions. In over two decades of activity in Romania, the Firm has advised on cornerstone deals for domestic and international clients across multiple sectors. Key practice areas include Banking and Finance, Real Estate, Corporate, Employment, Energy and Infrastructure, Competition and Litigation.

www.dentons.com

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