CTP Agrees on Sale of Its Non-Core Assets to DMO Invest
CT Retail was acquired by DMO Invest on August 10, 2017 representing a transaction in the range of approximately EUR 40 million. Michal Felcman, head of CTP’s Mergers and Acquisitions team who managed the transaction over the previous 9 months, stated: “The portfolio consisted of 19 retail properties, including supermarkets, at various locations throughout the Czech Republic.” CTP plans to invest the proceeds from the sale to further support the expansion of CTP’s core business activities in Central Europe.
Jan Kovarinsky, founding partner at JK Advisory, acting as CTP´s advisor in this off-market deal, says: “This transaction proves the increasing appetite of private investors to close large regional transactions. The market conditions continue to be favourable and local real estate keeps strengthening its position among other forms of investments.”