CTP takes over 95,000 sqm of logistics spaces in Romania from Australian group

Prague-based CTP, the biggest owner of logistics and industrial spaces in Central and Eastern Europe (CEE), has acquired a portfolio of 12 buildings from the Australian group Cromwell Property Group. With a total area of 95,000 sqm, the buildings are located within CTPark Bucharest, one of CTP's biggest logistics parks in Romania.

With this acquisition, the company expands CTPark Bucharest to over 500,000 sqm of rentable space, occupied by over 100 customers.

"The Cromwell acquisition complements our portfolio at km 13 of the park situated on the A1 Highway. We plan to redevelop the park to bring it to CTP standards through energy efficiency, considering the buildings' appearance. The Cromwell portfolio includes a multifunctional building, which is not operational but will be brought to life by the middle of next year. Here, we will create a CTP Clubhouse with multiple functions – from restaurant and cafés to fitness and conference rooms, to support residents in attracting quality workforce and easy access to basic services and even entertainment," said Andreea Enescu, Transaction Manager CTP Romania, the orchestrator of this transaction.

Real estate agency JLL managed the transaction.

CTP is the leading warehouse developer and manager in Romania, with a GLA of over 1.25 million sqm of Class A warehouses in 10 cities: Arad, Bucuresti, Cluj-Napoca, Deva, Pitesti, Sibiu, Timisoara, Turda, Ineu, and Salonta.

(Photo source: CTP)