„We are close to sign a contract in Turda and probably the construction works will start by the end of the year. We have exclusivity on this project and as far as I understood Graells & Llonch also has its own negotiations“, has declared Răzvan Gheorghe, managing partner Activ Property Services, a company designated by the Spanish to lease the park in Turda.
Graells & Llonch was involved in Turda project by the investment fund Europa Capital, controlled by The Rockefeller Group, the owner of 22 ha of land in the area. The two partners have in plan the development of an industrial park with an area of 545,781 sqm and 70 buildings to be developed in 5 years. The investors estimate that the project total financing will reach approx. EUR 200 million.
Tim Norman, the executive director within Europa Capital, has declared a year ago for Capital that after the development of the first buildings, a part of the land could be sold to investors interested in building their own production facilities or warehouses.
The companies that relocate in the new project are exempt from the municipality tax for five years, due to the industrial park statute and will benefit from service charges 12 times cheaper than in other similar locations. The service charges requested by the developer will be EUR 0.7/sqm/year.
Founded in 1928, Rockefeller Group is owned by Mitsubishi Estate Co. Ltd., entity active on the real estate market as developer, landlord and investment funds manager. Rockefeller Group Investment Management, the coordinator of all investments, manages third parties assets of over $ 610 million.
Europa Capital is an investment funds manager operating in Europe, bought from its three owners by Rockefeller Group. Since 1995, the company managed six funds involved in 70 transactions totalizing EUR 6.5 billion across 17 European countries.