May 11 (SeeNews) - London-listed Globalworth Real Estate Investment said on Tuesday that it has purchased two industrial projects in western Romania for 18 million euro ($21.9 million) from Global Vision.
The two acquired projects, IPW Arad (Industrial Park West Arad) and IPW Oradea (Industrial Park West Oradea), have a total area of 27,000 sq m and an occupancy rate of 100%, Globalworth said in a press release.
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IPW Arad was built in two phases: the first phase, delivered in 2012, comprises production, warehouse, office and technical areas, and the second phase, completed in November 2020, aimed to develop the park with two more levels dedicated to production and office areas.
A first phase of 6,900 sq m of the IPW Oradea was completed and delivered in the second half of 2020, with the possibility of expanding to up to 9,900 sq m. Located on the European Road E60, 4 km away from the border with Hungary, the industrial park will soon benefit from an intermodal terminal currently under construction.
Following these transactions, Globalworth is now present in six major cities in Romania: Arad, Bucharest, Constanta, Oradea, Pitesti and Timisoara.
Globalworth is a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange.
Global Vision is a Romanian company founded 17 years ago which is managing 10 development projects spread of an area of 1.5 million sq m in strategic locations in four countries: Romania, Slovenia, Slovakia, and the the United States, according to its website.
($= 0.822 euro)