Valad lets 3,500 sq m with four leases in Romania

Bucharest - 04 mai 2012 - Valad, the European multi-let real estate investment manager, has signed three leases totalling 2,494 sq m at the A1 Business Park and two leases totalling on 976 sq m at the Domnesti Business Park in Romania.

At the A1 Business Park, Cummins, a global designer and manufacturer of diesel engines, has agreed to renew its lease on 1,249 sq m of industrial space for a further three years. In addition, 167 sq m of commercial showroom space has been let to Santech System, a Romanian restaurant supplier, for a term of five years while 102 sq m of showroom space has been let to local cleaning services company Servicii, Curatenie, Rapiditate for a term of three years.

At Domnesti Business Park, Europart, one of the leading European auto parts and service station equipment suppliers, agreed to let 776 sq m of office and warehouse space for three years. Furthermore, D&L Automotive extended the office area on its lease with another 200 sq m.

Situated on the A1 Highway, the A1 Business Park provides small and medium-sized quality office, commercial and warehousing space in the Bucharest area. Existing tenants include DHL, Coelco Trade, Isolier, Orange Media, Europapier and Sanirom.

Next to Bucharest’s west ring road, Domnesti Business Park has excellent transport links via the A1 motorway to Pitesti/Timisoara/Nadlag and via the A2 motorway to Constanta Port. The park comprises units ranging in size from 200 sq m to 2,000 sq m and is currently let to a variety of tenants that include Dobrogea Grup, Wilkinson, Regency and D&L Automotive.

Silviana Badea, Valad’s Country Manager in Romania, said: “We are delighted to have secured three new tenants at the A1 Business Park and another one at Domnesti Business Park. Following the decision earlier this year by Studio Modena to extend its lease at A1 Business Park, these new lettings and the renewal further demonstrate both the quality of the asset and the importance of having an experienced team of asset managers permanently based in Romania. Their expertise and knowledge of the local market is an essential part of Valad’s strategy for delivering strong returns on our assets in the country.”

In the CEE, Valad’s team manages 22 properties with 260 tenants from offices in Bucharest, Budapest, Warsaw and Prague.

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.bathersby@valad.co.uk

About Valad

Valad is a European multi-let real estate investment manager with a network of local offices throughout Europe, managing over €4 billion across 13 mandates.

In Europe, Valad manages 650 assets comprising approximately 6 million square metres. Its core business is value-adding real estate investment management with local asset management teams taking care of 6,000 tenant customers.

Valad has 220 staff and 22 offices in 12 countries across Europe.

Valad is an independent company owned by management and Blackstone, one of the world’s leading Real Estate Investment Managers, through their Blackstone Real Estate Partners VI L.P. fund, a US$10.9 billion (€7.5 billion) global real estate fund. Further information is available at www.blackstone.com.

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http://www.blackstone.com/

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