European logistics specialist CTP has acquired a major industrial portfolio from Globalworth, an office investor in Central and Eastern Europe (CEE).
The portfolio comprises six industrial parks covering some 270,000 m2 of gross leasable area, plus a 30 ha landbank in six key locations in Romania.
The land is situated in locations close to current CTP parks (Bucharest, Arad) and complementary locations strengthening CTP’s footprint in the area (Pitesti, Oradea, Timisoara).
Remon Vos, CEO of CTP Group, said: 'This acquisition significantly expands our Romanian portfolio by adding over 270,000 m2 and introduces 40 new names to our diverse tenant roster.
'Additionally, the acquisition includes 30 hectares of excess land, which enables us to further our commitment to organic development in Western Romania. This development will not only benefit our tenants but also contribute positively to the local communities.'
Dennis Selinas, CEO of Globalworth, added: 'By divesting these non-core assets, Globalworth reaffirms its commitment to focusing on its main competencies in the office segment, where we hold competitive advantages.
'This sharpened focus will enable us to dedicate more resources to expanding our key operations, fostering innovation, and delivering enhanced value to our tenants and shareholders.
'It will also significantly increase our liquidity, providing the company with the capital necessary to seize strategic opportunities as they arise.'
The deal brings CTP's Romanian portfolio to around 2.91 million m2 GLA of Class-A warehouses.
Brokerage firm AGBC advised CTP.
