Local lender Banca Comerciala Romana (BCR) and the European Bank for Reconstruction and Development (EBRD) have granted a EUR 75.8 million loan facility to Czech developer CTP.
The group will use the money to add two “green” warehouses of over 72,000 sqm to its CTPark Bucharest West logistic park and to refinance an existing loan.
BCR is providing EUR 39.1 million and the EBRD EUR 36.7 million. BCR acted as mandated lead arranger, documentation, facility and security agent.
CTP’s total investment in this expansion phase amounts to EUR 108.9 million. The two buildings will help CTP meet the increasing demand for warehouse space from existing clients as well as newcomers on the Romanian market. The warehouses are expected to be certified under an internationally recognized scheme such as Leadership in Energy and Environmental Design (LEED) or BRE Environmental Assessment Method (BREEAM).
With a planned leasable area of 600,000 sqm, CTPark Bucharest West is designed to become the largest logistics park in Romania. It will reach over 244,000 sqm of leasable area after the two warehouses, currently under construction, are finished.
Czech-based CTP is the largest business park operator in Central Europe and Romania. In Romania, CTP is the leading warehouse developer and manager, with a GLA of 615,000 sqm of Class A warehouses in eight cities: Arad, Bucharest, Cluj-Napoca, Deva, Pitesti, Sibiu, Timisoara and Turda.