CTP launches €1bn logistics strategy for Italy with acquisition of VLD

European industrial real estate manager CTP has made its debut in the Italian logistics market with the €241m acquisition of VLD, a development company with a significant landbank, previously controlled by FBH Group.

This deal represents the start of CTP’s investment in Italy, where it plans to invest €1bn over the next five years, the company said.

The acquisition provides CTP with a pipeline of development opportunities primarily across northern and central Italy. VLD has an 8.7 million sqm landbank including sites with immediate development potential, providing CTP with 1.7 million sqm of owned land, a further 2.7 million sqm under contract subject to zoning for industrial and logistics use, and 4.3 million sqm under option to be exercised at CTP’s discretion upon successful zoning completion.

Remon Vos, CEO at CTP, said: “We continue to expand into Western Europe in line with our business plan and plan to invest one billion Euros into Italian projects over the next five years. We see great potential in Italy where demand for modern and sustainable logistics space is growing, yet the market remains relatively undersupplied.

“As a fully integrated developer, operator, and long-term owner, CTP is uniquely placed to tap into this opportunity, providing our clients with state-of-the-art business parks tailored to their needs with an end-to-end real estate service.”

He added that the Italian market offers “an attractive return profile with a yield on cost target around 8.5%-9.5%”.

“For 2026, we already plan to deliver around 200,000sqm of gross lettable area (GLA), ramping up to 250,000sqm and to 300,000sqm annually from 2027. This is one of the key steps towards achieving our ambition of 30 million sqm of GLA by 2030,” he added.

The acquisition of VLD provides CTP with a diversified geographic footprint and nationwide presence across Italy, with 71% of the development land and potential GLA located in Northern Italy, centred around key regional business hubs such as Milan, Bologna, and Turin. Around 25% of VLD’s landbank is in Central Italy, mainly around Rome and Florence, with the remaining 4% in Southern Italy, concentrated around Bari, one of southern Italy’s main logistics hubs and population centres.

The landbank, which has the potential to deliver around 3.5 million sqm of GLA, also comes with two standing assets totaling 30,000sqm of GLA.

VLD will be renamed CTP Italy, with a local team on the ground led by Agostino Emanuele.

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