CTP close to buying EUR 40 mln logistics park near Bucharest

CTP, the largest owner of logistics spaces in Romania, is negotiating the purchase of a functional logistics park near Bucharest for around EUR 40 million.

This deal would represent a third of the investments CTP earmarked for 2019.

“At the end of 2018, we signed a deal for a future acquisition with a Belgian investor. We are in the middle of the transfer of a property of about 80,000 square meters, which will be part of our portfolio before the first half of the year," said Remon Vos, CEO and one of CTP's founders, quoted by local Profit.ro.

The company has so far invested about EUR 500 million in almost one million square meters of industrial and logistics spaces located in 15 parks across Romania. At an average yield of 8%, Ziarul Financiar evaluates the value of CTP’s parks at EUR 600 million. Only last year, the developer completed and delivered over 300,000 square meters of logistics spaces in the country. The investor also owns EUR 25 million worth of land for expansion.

This year, CTP plans to invest EUR 120 million in Romania, including the EUR 40 million for the acquisition nearly completed. Most of the money will go on constructions developed by CTP itself, amounting to around 200,000 square meters.

(Photo source: the company)