CTP acquires logistics park near Bucharest with EUR 40 mln

CTP, the leading premium industrial parks developer and long-term manager in Romania and Central and Eastern Europe, acquired A1 Bucharest Park, a logistics park located on the A1 motorway near Bucharest, within a transaction valued at approximately EUR 40 million.

The logistics project A1 Bucharest Park was developed by AIC RE and bought by CTP from Vabeld Group. The transaction was concluded on the June 27, 2019, according to a press release.

The developer already owns three other properties in the vicinity of Bucharest, namely CTPark Bucharest West, CTPark Bucharest and CTPark Bucharest Chitila.

The newly acquired land and buildings will be fully integrated in CTPark Bucharest, CTP said. The project covers 14 ha of land on which are developed eight warehouses, fully occupied, with a total GLA of 78,000 sqm. The diversified tenant base includes nationally and internationally important retailers and logistics players, such as Delamode, Augsburg, and Kalapod.

CTP has been financed by Alpha Bank and assisted by CMS Cameron McKenna. It was sustained in this transaction by the law firm NNKDP and the financial and tax part was led by Mazars.

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