Real estate developer CTP, the largest warehouse owner in Romania, has signed the contract for purchasing Equest Logistic Center, near Bucharest, from British fund Equest Balkan Properties, for a price of about EUR 30 million.
Equest Logistic Center is located at kilometer 13.5 of the Bucharest-Pitesti highway and has a rentable area of 56,690 square meters, divided into three halls with 40 logistics units built between 2008-2009. The property is over 95% rented to companies such as Garrett, Elephant, BDG, Premium Lubricants, Militzer, Shimano, Senso Ambiente, Elmec Group, Hilti and Telekom.
The transaction was intermediated by real estate consultancy firm Cushman & Wakefield Echinox.
So far, CTP has invested about EUR 500 million in over 1.2 million square meters of industrial and logistics spaces located in 15 parks in Romania. The investor also owns land for further expansion worth about EUR 25 million.
(Photo source: the company)
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