CTP concludes purchase of Bucharest West Industrial Park
CTP has successfully concluded the purchase of the Bucharest West Industrial Park on the outskirts of Bucharest from Portland Trust. With the closing of this deal, CTP becomes the largest industrial developer on the Romanian market.
The park, renamed CTPark Bucharest, has a total lettable area (TLA) of 130,000 m² with an additional 11 hectares available for development. CTPark Bucharest is home to a number of existing tenants including DSV, Iron Mountain, Equest Logistics and Welde Romania.
“The acquisition of the Bucharest West Business Park, renamed CTPark Bucharest, is the latest in a series of deals CTP concluded within Romania in 2015. This latest is the largest acquisition and it means that we are now the number one industrial developer on the Romanian market. The CTP Romania team worked hard to get us to this point and we have high ambitions for the continued growth of the CTP Romanian portfolio,” says Remon Vos, CTP CEO
“CTP continues to grow in Romania through both acquisitions and with our existing clients. The strength of the CTP portfolio is shown in the trust our existing clients show in moving with us to Romania. We recently signed a record lease deal with Quehenberger Logistics for 19,500 m² of space in CTPark Bucharest West, a sign that the demand for industrial space is strong in Romania,” says Laurentiu-Catalin Hanu, CTP Business Development Romania
CTP´s portfolio of A-class industrial properties has lettable area of approximately 3 million m² and CTP´s updated commitment is to grow to 5 million m² by the end of 2018.