The Belgian real estate developer Warehouses DePauw (WDP) offload its Czech subsidiary in an effort to focus its attention on the Romanian market, where it own land totaling 860,000 sqm.
The transaction was estimated at €25m.
WDP, which first entered the Romanian market in 2007, has a logistics and industrial project near the city of Pitesti, with a leasable area of 6,880 sqm. The project is fully occupied by the Italian division of the Röchling-Automotive company. WDP said it plans to develop a number of retail parks in the country.
