July 2024 – Kinstellar is delighted to announce that it has again successfully advised Globalworth, an AIM-listed, leading office investor in Poland and Romania, on the sale of a logistics portfolio in Romania, to the buyer WDP. The transaction closed in July 2024, being one of the largest logistics transactions in Romania to date in 2024.
The portfolio sold to WDP was a joint venture with Global Vision, and includes sizeable lettable logistics and industrial facilities as well as land bank in Chitila, Constanta and Targu Mures. This transaction follows on the heels of Globalworth’s sale of another logistics portfolio to CTP earlier this year in May.
Kinstellar provided comprehensive support on all aspects of the transaction. Kinstellar’s team was led by Counsel Catalin Dinu, with support from Senior Associate Corina Stanciu and Associate Denisa Constantin.
Our thanks to Globalworth for trusting us with the legal work for this sale. Like all transactions, it had its own challenges, and through hard work and the great teams involved on all sides of the transaction, it closed. My thanks to Catalin and colleagues for driving this – I am truly proud of our team.
Victor Constantinescu, Bucharest Managing Partner and Head of Real Estate