Valad secures letting in Bucharest to Italian steel giant

Bucureşti - 14 septembrie 2010 - Valad Europe (“Valad”), the pan-European real estate investment manager, announces that its Romanian team has signed a four year lease totalling more than €800,000 for 4,303 sq m of warehouse and office space at the A1 Business Park in Bucharest, with Valsider Production (“Valsider”), a sister company of the Italian steel giant, Cordioli.

Situated on the A1 Highway, the A1 Business Park is owned by Valad’s Central European Investment Fund (“CEIF”) and is one of the leading developments providing small and medium-sized quality office, commercial and warehousing space in the Bucharest area. Existing tenants include DHL, Dobrogea, Heinrig and Decomar Logistics, which leased 1,800 sq m from Valad in June 2010.

Silviana Badea, Country Manager at Valad Romania, said: “We are delighted that Valsider has chosen the A1 Business Park as a base for its Romanian operations. Given current market conditions, it is encouraging to see a company with Valsider’s international reputation, invest in Romania with a long term view.”

Jacopo Palermo, General Manager of Valsider, commented: “The A1 Business Park’s strategic location, next to one of the key transport routes in Romania, together with its modern office space, made it a perfect match for our business. We are looking forward to using it as a base to expand our Romanian operations.”

Valad has let over 15,000 sq m of space in Romania and 75,000 sq m across the whole of the Central and Eastern Europe (“CEE”) region so far this year, through both lease renewals and new lettings. Valad manages more than 600,000 sq m of space in CEE and employs 16 people across its four offices in Romania, Poland, Hungary and Czech Republic.

In the year ending 30 June 2010, Valad’s European asset management team leased over one million sq m of space across Europe, through 1,500 transactions, averaging 30 leases signed per week and six leases signed per day.

Attached: Warehouse space at the A1 Business Park in Bucharest, home of Italian steel giant, Cordioli’s, Romanian operation, Valsider Production.

About Valad
Valad Property Group is a leading multi-let investment manager with an international network of local offices managing over €6.2 billion globally.

In Europe, Valad manages 900 assets in 15 funds with a value of greater than €5 billion. Its core business is value-adding real estate investment management with local asset management teams taking care of over 8,500 tenant customers.

Valad has 250 staff and 20 offices in 12 countries across Europe and 300 staff worldwide and is listed on the Australian Stock Exchange.

For further information contact:
Silviana Badea, Valad Romania
Tel. +40 (0) 722 236 787 or
+40 (0) 731 732 929
silviana.badea@valad.ro

Jeremy Carey, James Verstringhe, Tavistock Communications
Tel. +44 (0) 20 7920 3150

Louise Bathersby, Valad
+44 (0) 20 7659 6710
louise.bathe
http://www.valad.ro/

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