International investor and developer CTP has expanded its CEE portfolio with the purchase of the three-property logistics and industrial portfolio in Slovakia.
International investor and developer CTP has expanded its CEE portfolio with the purchase of the three-property logistics and industrial portfolio in Slovakia.
This purchase makes Prague-based CTP one of the dominant players on the Slovak real estate market, with a focus to satisfy growth plans of its clients from the automotive industry and logistic providers, the company said in a statement.
The portfolio comprises 62,000 m2 of logistics and production halls in Trnava, next to a PSA Peugeot Citroën production facility, with a land bank of 35,000 m2; a 15,000 m2 production facility for automotive components in Nitra, near the future site of the Jaguar Land Rover plant, with a land bank of 40,000 m2; the 8,500 m2 Westend Tower office building in Bratislava.
Tatra Banka, a member of Raiffeisen Bank International, provided financing for the deal, whose volume was not disclosed.
'The successful closing of this deal underpins our long-term strategy of reaching regional dominance through both acquisitions and organic growth. We recently strengthened our in-house M&A team and I am delighted to see the fruits of that labour come to force,' said CEO Remon Vos.
'CTP continues to close significant acquisitions across the region in our core asset classes. I am delighted to work with long-term bank partners who appreciate our clear strategy and foresight in identifying the next profitable opportunity,'commented says Radek Zeman, CTP CFO.
'CTP group, one of the leading companies in industrial real estate in CEE region, together with Tatra Banka, long term leader in real estate finance in Slovakia, created a very professional team in this transaction. I highly appreciate the opportunity to be a part of this portfolio acquisition. Tatra Banka is and will be pleased to participate on CTP group expansion in Slovakia.' added Vladimír Lakatoš, head of real estate finance, Tatra Banka.
CTP's portfolio of A-class industrial properties has lettable area of approximately 3 million m2 and CTP's updated commitment is to grow to 5 million m² by the end of 2018.