WDP acquires Expo Market Doraly from ARA Europe & Gheorghe Iaciu

WDP acquires Expo Market Doraly from ARA Europe & Gheorghe Iaciu, who founded the project in 1993. Expo Market Doraly is the oldest and most successful wholesale, cash & carry and urban logistics park in Romania.

Located in the north-east of Bucharest, Expo Market Doraly covers an area of approximately 110,000 sqm and comprises a total of 37 pavilions, where more than 400 traders operate.

Together with WDP, who will perform the asset management, Mr. Iaciu and the current property management team will continue to manage the project.

"We are happy to have acquired this promising asset, which complements our existing portfolio in Romania. We look forward to continuing the success of Expo Market Doraly and making it an even stronger business, facilitating future growth with Mr. Iaciu and his team of seasoned professionals. I would like to thank both sellers for the extremely professional transaction process and iO Partners for presenting the opportunity to us," said Jeroen Biermans, Country Manager WDP Romania.

WDP was assisted in this transaction by Țuca Zbârcea (legal), Mazars (financial and fiscal), Brown Marinescu Consulting (technical) and CBRE (commercial).

The sellers were assisted by Reff & Associates (legal), Deloitte (tax) and iO Partners (commercial).