Real estate investment trust (Reit) company Fortress Reit has concluded its first logistics acquisition in Romania, after reaching an agreement with Element Industrial and Paval Holding for Eli Park 1, an A-grade industrial development, located in Buftea-Chitila. Fortress’ long-term strategy to pivot the business to a one-third convenience retail and two-thirds logistics real estate portfolio in both South Africa and Europe has helped the Reit to achieve significant growth during this volatile trading period, the company said in a statement on September 7.
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