Secure Property Development & Investment acquired the Innovations logistics park for €12.6m. The company used €4.4m from its own capital resources and an issuance of 785,000 redeemable shares to fund the sale. The seller was Phoenix Real Estate. Located near Bucharest, Innovations has a lettable area of 17,000 sqm and generates a rental income of €1.3m per year. The park’s main tenant is Nestle, which occupies more than 60 percent of the space. Secure Property Development & Investment owns several logistics and industrial parks in Romania.
