CEE business park specialist CTP has signed a loan deal with the European Bank of Reconstruction and Development (EBRD) and Romanian financial group BCR for a credit facility totalling €75.8 mln.
The loan will support the expansion of CTPark Bucharest West by two new warehouses totalling over 70,000 m2. €36.7 mln of the facility was granted by EBRD, and €39.1 mln by BCR. According to CTP, the total investment in the park's expansion phase will reach €108.9 mln.
'We are very pleased to reach this agreement that helps us take another major step towards making CTPark Bucharest West the most important logistics park in Romania, in terms of total surface, but also development pace and standards of quality,' said Ana Dumitrache, country head of CTP Romania. 'This loan also represents the first cooperation between CTP and EBRD, alongside our long term financial partner BCR and Erste Bank.'
'We welcome CTP’s drive for green certification, which is not yet standard in the Romanian logistics market. Green leases are also a new feature in the logistics sector in Romania, which will not only benefit the cooperation with tenants but will strengthen CTP’s competitiveness in the market,' said Matteo Patrone, EBRD director, regional head for Romania and Bulgaria.
With a total lettable area of 600,000 m2 planned, CTPark Bucharest West is set to become one of the largest parks in the region.
