CTP acquires Amsterdam Logistic Cityhub
■ Largest single-asset transaction in logistics real estate in the Netherlands; net transaction value €307 million for 100% of the shares
■ Approximately 120,000 m² of storage and last mile distribution space equipped for emission free transport, and approximately 11,000 m² of office space
■ Completion expected in the fourth quarter of 2022, already partially leased
Amsterdam, 16 August – CTP, a top five industrial property developer in Europe, today announced the acquisition of the Amsterdam Logistic Cityhub (ALC) with a net transaction value of €307 million for 100% of the shares of the single-asset. The XXL city hub in the Western Docklands of Amsterdam is currently being constructed and upon completion will comprise approximately 120,000 m² of storage and last mile, multi-layer distribution space. ALC is a multi-tenant complex and includes approximately 11,000 m² of office space, with approximately 1,700 parking spaces, 200 loading docks and a private 180-metre quay. CTP will acquire ALC from entrepreneurs Wim Beelen (Larendael Development) and Paul Vermaat (Bridges Real Estate). The ALC acquisition is the largest single-asset transaction in logistics real estate in the Netherlands to date.
The city hub meets the strong demand for storage and last mile distribution space at a short distance from the city centre, suitable for emission-free delivery and supplying the city centre by both land and water. Amsterdam Logistic Cityhub is strategically located in the port of Amsterdam with direct access to the A10 ring road and the North Sea Canal. The city hub is expected to be completed in the fourth quarter of 2022 and is already partly leased up.
The construction is carried out according to the highest sustainability standards and business operations will be maximum energy neutral. The connection with the city centre by water enables transport with electrically powered boats, and with electricity generation through solar panels and wind turbines ALC is self-sufficient. ALC will be BREEAM Excellent certified as soon as the distribution centre is completed.
CTP was advised in the transaction by Dentons Amsterdam (legal), Savills Netherlands (commercial) and EY (tax), the selling party was assisted by DLA Piper and CBRE.
About CTP N.V.
CTP is a top five industrial property developer and manager in Europe and the largest in CEE, with over 6.6 million m² of logistics space and operations in nine countries. The company is on target to expand its portfolio to 10 million m² by year-end 2023. With its entire portfolio BREEAM certified, CTP claims the position of the most sustainable developer in the region and is on track to reach carbon neutrality this year. At the end of March 2021 CTP listed on the Euronext Amsterdam stock exchange, issuing 397,017,000 shares priced at €14 per share, which implied a market capitalisation for the company of €5.6 billion at listing. CTP’s market capitalisation is at €6.7 billion per 30 July 2021.
For more information:
Ralph de Munnik
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Visit our corporate website: www.ctp.eu