Largest logistics park owner in Romania borrows EUR 56 mln from BCR

Dutch-Czech developer CTP, the largest owner of logistics facilities in Romania, has borrowed over EUR 56 million from local lender BCR to refinance its latest acquisitions. The company has bought logistics parks in Arad, Deva, Turda, as well as the Prologis logistics park in Bucharest this year. It financed the purchases via an intra-group loan from the parent company which it now needs to refinance, reports local Economica.net. The Dutch group has been active in the Romanian market for seven years. It holds 120 hectares of land, but hasn’t made any developments here. CTP bought four logistics parks within six months this year, and became the largest owner of logistics facilities in Romania, with a rentable area of over 340,000 sqm. The company announced this fall that it planned to reach assets of over EUR 250 million in Romania. CTP owns over 2.5 million sqm of logistic property in Central and Eastern Europe. editor@romania-insider.com