WDP acquires urban industrial estate from ARA Europe

WDP acquired Expo Market Doraly from ARA Europe & Gheorghe Iaciu, who founded the project in 1993. Expo Market Doraly is slated as the longest-standing and most successful wholesale, cash & carry, and urban logistics park in Romania.

Located in the northeast of Bucharest, Expo Market Doraly covers an area of around 110,000 sqm and comprises 37 pavilions, where over 400 traders operate, and has a long history of continued and sustainable growth. The location has direct access to Bucharest’s existing and new ring road, making it ideally suited for efficiently supplying the retailers in the capital and Romania’s south-eastern region.

“We are very pleased with the acquisition of this promising asset, which is complementary to our existing Romanian portfolio. I look forward to continuing the success of Expo Market Doraly and making it an even stronger business by facilitating future growth together with Mr. Iaciu and his team of seasoned professionals. I would like to thank both sellers for the highly professional transaction process and iO Partners for introducing the opportunity to us,” said Jeroen Biermans, Country Manager WDP Romania.

Gheorghe Iaciu, on behalf of the Seller, said: “In our pursuit to find the best fit for Doraly’s evolution by tenant expectations and final client satisfaction, we identified WDP as one of a kind, to maximize the potential of the property. Expo Market Doraly is a resilient asset with a strong tenant portfolio of Producers, Importers and Distributors, where customers can find a wide range of products at very competitive prices, a commercial centre in continuous evolution and growth.”

WDP was supported in the transaction by Tuca Zbarcea (legal), Mazars (finance & tax), Brown Marinescu Consulting (technical) and CBRE (commercial). The sellers were supported by Reff & Associates (legal), Deloitte (tax) and iO Partners (commercial).