Prologis sells logistics park near Bucharest to Czech group CTP – EuropaProperty

Prologis, the biggest industrial space owner in the world, has recently sold the logistics park Prologis Park Bucharest A1 to the Czech group CTP. According to local reports, the deal’s value was close to €50 million.

This transaction marks Prologis’ exit from the Romanian market, where it had been present since 2006. The Prologis Park Bucharest A1 is located on the Bucharest-Pitesti highway. It has four warehouses that cover 107,800 sqm and a 28 hectare land for expansion, being the fourth largest logistics park in Romania.

Prologis has the whole assets valued at some €49.3 million, according to its 2014 financial report. The park is almost fully let to logistics operators such as Geodis Calberson, Kuehne & Nagel, H. Essers, and Cargo Partners.

Czech group CTP has bought three other logistics parks in Romania in the past months: Mercury Logistics Park near Bucharest, Cefin Logistic Park near Arad, and Deva Logistic Park. The group has paid some €35 million for the three assets.

The biggest transaction in the logistics segment was the Europolis Logistic Park’s takeover by Czech group P3 for €120 million.