CTP, the largest developer and administrator of class A logistics and industrial spaces in Romania, with a portfolio of about 1,850,000 sqm, has acquired another 153,000 sqm of industrial space expanding its portfolio in Brasov and enlarging its presence in Timisoara and the South of Bucharest, thus becoming present in 13 cities. The transaction marks the beginning of fruitful cooperation between CTP and the seller, Olympian Parks, in a swift and super quick M&A transaction, probably the largest of its kind in the local market this year.
Brasov, strategically situated in the middle of the country, is new on the CTP Romania map, with seven buildings, mostly rented, but also with available space for lease. Timisoara becomes now the second-largest presence for CTP Romania, after Bucharest, by owning another industrial park with five buildings in the close vicinity of its CTPark Timisoara next to the airport in Ghiroda, also with space immediately available for lease.
“Our portfolio is closer now to the 2 million sqm milestone, while we are covering more of Romania through the presence in Brasov. Timisoara adds very nicely to what is to become shortly the largest CTPark in Romania outside Bucharest and its surroundings”, said Ana Dumitrache, Country Manager, CTP Romania.
Seven new tenants are entering the family of CTP clients as the rest of the inhabitants of acquired buildings are already having space leased in the group’s local portfolio.
The acquired parks are all offering possibilities of development on buildable land adjacent to the buildings – perfectly matching CTP strategy of full flexibility for accommodating tenants’ needs including the growth ones.
The transaction was structured and implemented by the CTP Romania transaction team led by Andreea Enescu, Head of Transactions, in record time, all made possible also by professional support from the internal construction team led by Valentin Rosu on technical aspects and by the excellent commercial and timely approach of CTP external legal partner, Theodor McCann.
In 2021 CTP also purchased around 112,000 sqm of industrial spaces from Zacaria Industrial. Also, in 2020, the company carried out a series of similar transactions, including the acquisition of the A1 Business Park platform in Dragomirești Vale from Cromwell Property Group and that of the Equest Logistic Park industrial park, located on the A1 highway, near Bucharest, from Forum Serdika, being the most dynamic player on the industrial and logistics market.
Following this acquisition, CTP owns class A warehouses in 13 cities in Romania: Arad, Brasov, Bucharest, Cluj-Napoca, Craiova, Deva, Oradea Pitesti, Sibiu, Timisoara, Turda, Ineu and Salonta. In Central and Eastern Europe, the company is the largest developer of industrial and logistics parks with a portfolio of 6.6 million sqm which it aims to expand to 10 million sqm by 2023.
