Dunwell and VGP finalize one of the biggest land transactions in Romania
Dunwell, the first and only Romanian broker specialized exclusively in industrial real estate, and VGP, one of the main industrial parks developer in Germany and CEE, concluded in the last May a 230,000 sqm land transaction in Brașov. This is one of the largest industrial development land purchase in Romania, outside Bucharest, within the last 5 years.
Dunwell has successfully concluded the brokerage process of this land transaction at the end of May. Being on the market for less than a year, but having a team with an extended experience in real estate and especially in industrial real estate, Dunwell managed to already accomplish several important transactions with partners from retail, production and logistics. Its vision is to cover 10 percent of the market in the first year, and on medium term (3 years), to reach 30 percent of market share. The broker started its operations in second half of 2017.
“This first and also important transaction in land brokerage represents for Dunwell the completion of a long process and a confirmation that we have the power to successfully operate on this market and serve our clients with our specialized expertise in industrial real estate. The result of the partnership with VGP makes us confident in the market’s future prospects and gives us the strength to focus on the next projects we have to complete. The Romanian market evolution is also a source of optimism, the need for logistic and industrial space continuing to be at high rates,” said Daniel Cautiș, Managing Partner at Dunwell.
The real estate group VGP is specialized in the acquisition, construction, leasing and administration of industrial and logistics real estate. The Belgian company is continuously working to optimise its buildings in accordance with the demands of the market and the latest technical developments: energy efficiency and sustainability are among VGP top priorities. In Romania it owns, starting 2012, other two logistics parks: VGP Park Timișoara with 270,000 sqm land area and over 120,000 sqm GLA and VGP Park Sibiu with 97,000 sqm land area and more than 45,000 sqm GLA.
“Due to growing demand from our current and potential customers in Romania, we have decided to expand in the country and to acquire, also amongst others, a new land plot in Brasov which allow us to develop more than 100,000 sqm of first-class logistics real estate in a real top location. We will be able to welcome our first customers in this new park in the next 12 to 18 months and are very excited to explore further opportunities throughout Romania. We were pleased to cooperate with Dunwell on this transaction, who provided us with professional services and advice,” commented Jan Van Geet, CEO of VGP.