CTP, the largest manager and developer of premium industrial and logistics parks in Romania, has acquired Chitila Logistic Park from UBM Development with EUR 17.3 million.
The deal was concluded in mid-September. It is part of the group’s strategy to increase its local portfolio of logistics and industrial spaces to 1 million sqm until the end of 2018.
Chitila Logistic Park has been renamed CTPark Chitila. It has a total area of 93,000 sqm, 45,000 sqm of which represent a rentable area and 48,000 sqm are destined for later developments.
The logistics park is fully leased. Its tenants include the logistics firm Havi Logistics, pharma distributor Europharma and Ringier Print, part of the Ringier media group.
CTP Romania plans to extend the newly-acquired park. It will start building 13,000 sqm of new warehouses at the end of this year. Besides CTPark Chitila, CTP owns two logistics parks of 500,000 sqm near Bucharest, CTPark Bucharest and CTPark Bucharest West, both with direct access to the A1 highway.