In its last transaction, CTP bought from Prologis four warehouses with a total rentable area exceeding 100,000 sq. m and 36 ha of land for the development of BTS projects. The Prologis warehouses are strategically located in the close vicinity of another property of CTP.
The expansion of CTP is successfully in Romania. The investor has recently completed a customized industrial property for Fraenkische, one of the traditional clients of CTP. Moreover, CTP bought in the beginning of the year 44,000 sq. m of A class logistic space in Arad and 25,000 sq. m in Deva. Currently, CTP is developing facilities in Cluj, Pitesti and in Bucharest, mostly for already existing clients.
“This is the right time to invest in Romania with over 4 pct GDP growth projected for 2015, and a market of around 20 mln inhabitants. Bucharest and other cities in Romania offer an educated and available workforce at competitive prices. Romania has significantly improved its infrastructure, including the road network, over the past years and these improvements look set to continue,” Remon Vos, CTP's CEO, has commented.
CTP is looking to invest more in Romania and estimates that its assets will exceed EUR 250 million,
The park in Bucharest has over 80 pct. occupancy rate and tenants such as Cargo Partner, Geodis, Gefco, Quehenberger and others.
In Europe, CTP manages a portfolio of A class industrial properties with a total rentable area of 3 million sq. m and the target of CTP for 2020 is to reach 5 million sq. m. (source: CTP)
