With this acquisition, CTP is close to achieving its goal for 2021, to develop 2,000,000 sqm of warehouses on the local market. CTP thus continues to build a solid foundation for business development in Romania and to develop its presence in key cities in Romania.
Thus, in Arad and Sibiu, CTP consolidates and expands its existing portfolio in the two cities which are highly relevant for the pan-European logistics corridors. Oradea, too, becomes a nodal point on the CTP map, in terms of both the new space purchased, but also of the construction project for the of the cargo terminal at Oradea Airport that the company has recently won following a tender held in August 2021. Moreover, through this acquisition, CTP adds a new location in its portfolio, in Craiova, the city that connects Bucharest with the western part of the country from a logistical point of view.
"We continue to build on our strategic goal to develop in Transilvania and this acquisition adds relevant developments in our regional portfolio. We thus welcome our new clients, who are now part of the big CTP family and we are glad to add a new city, Craiova, on Romanian map”, stated Ana Dumitrache, Country Manager CTP Romania.
The transaction was structured and implemented by CTP Romania transaction team lead by Andreea Enescu. CTP has benefited from outstanding legal advice services, appropriate to the complexity of this acquisition, provided by Theodor McCann, from Constantinovici, McCann& Associates law firm, part of The Law Chamber, in partnership with Biriș-Goran law firm. Also CTP was supported by Avision Young through its Managing Director, David Canta, who stated „I am honored to have been part of this project, which sets a new record on the investment market in the industrial-logistics sector. Romania has an extraordinary potential in this segment, supported by a growing demand for premium spaces and attractive returns for investors. I am sure that other large-scale transactions will follow”.
In 2020, CTP has also conducted a number 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 motorway, near Bucharest, from Forum Serdika.
Until this transaction, CTP owned class A warehouses in 10 cities from Romania: Arad, București, Cluj-Napoca, Deva, Pitești, Sibiu, Timișoara, Turda, Ineu și Salonta. In Central and Eastern Europe, the company is the largest developer of industrial and logistics parks with a portfolio of 6.6 million m² which it plans to expand to 10 million sqm by 2023.
CTP is a top five industrial property developer and developer in Europe and the largest in CEE, with over 6.6 million m² of logistics space and operations in nine countries. The company is on target to expand its portfolio to 10 million m² by year-end 2023. With its entire portfolio BREEAM certified, CTP claims the position of the most sustainable developer in the region and is on track to reach carbon neutrality this year.
At the end of March 2021 CTP listed on the Euronext Amsterdam stock exchange, issuing 397,017,000 shares priced at €14 per share, which implied a market capitalisation for the company of €5.6 billion at listing.