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CTP enters Hungarian market




International investor and developer, CTP, has successfully concluded the purchase of a portfolio of industrial real estate in Hungary. With this acquisition, CTP further increases its footprint in central Europe, with a Total Rentable Area exceeding 3,250,000 m² as of 1st January 2016. 

Financing partner of the acquisition was UniCredit Group, Hungary.

The portfolio comprises two assets:

  • 34,300 m² logistics warehouse in Budapest at the M0 ring road, now renamed CTPark Üllő.
  • 6,203 m² warehouse and production facility in Tatabánya, 60 km to the west of Budapest on the M1 motorway, now renamed CTPark Tatabánya

“CTP continues to acquire new properties in strategic locations across central Europe. Both CTPark Üllő and CTPark Tatabánya are ideally located to suit a wide range of businesses, from logistics and warehousing to back office and light manufacturing. Hungary is an interesting market for us and you can expect more news from our Hungarian team, led by Csaba Hegedűs, in the near future,” states Remon Vos, CTP CEO

Radek Zeman, CTP CFO, states: “We are pleased to cooperate with UniCredit Group, Hungary, on the acquisition of these two assets. The successfully executed acquisition underpins our strategy to grow both organically, and through acquisitons.”

CTP´s portfolio of A-class industrial properties has lettable area of approximately 3.2 million m² and CTP´s updated commitment is to grow to 5 million m² by the end of 2018.