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Article: GE Real Estate and Helios Phoenix Create Euro 175M Romanian Warehouse Development Joint Venture.
- Article from:
- PR Newswire
- Article date:
- June 26, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON, June 26 /PRNewswire/ -- GE Real Estate Central & Eastern Europe ('GE Real Estate') and Helios Phoenix have announced the creation of a joint venture to undertake euro 175 million of distribution warehouse developments throughout Romania. The transaction represents GE Real Estate's first entry into the Romanian real estate market.
The joint venture will initially develop seven Class A logistics and distribution warehouses, totalling 315,000 sqm located in the largest cities of Romania, with close access to highways and major roads, and with some located in the proximity of airports. The developments are being undertaken in response to the ongoing demand ...