European listed logistics property firm CTP has acquired an industrial portfolio of warehouses totalling over 100,000 m2 in Romania from French FM Logistic, a major supply chain services company operating across Europe.
As part of the deal, FM Logistics has agreed to lease back the assets which comprise three industrial parks located in the vicinity of CTP’s largest parks in Bucharest, Pitesti and Timisoara.
FM Logistic was founded in France in 1967, to deliver supply chain services in Europe, serving customers in the fast moving consumer goods market, retail, beauty-cosmetics, industrial manufacturing and healthcare industries. It has been active in Romania since 2003.
‘We are kick-starting a strategic alliance with a highly professional and specialized logistics operator, FM Logistic, who have been present in the Romanian market for over 20 years,’ said Ana Dumitrache, managing director CTP Romania. ‘The result is the acquisition of a state of the art portfolio with highly efficient warehouses complementing our existing stock and consolidating CTP’s presence in key locations that are increasingly perceived as regional hubs.’
The real estate transaction was advised on the sale-side by CBRE Romania. Mihai Patrulescu, head of Investment Properties at CBRE Romania, commented: ‚We are thrilled to have assisted FM Logistic in creating a partnership with one of the most reputable landlords in the market and we believe this transaction leaves them in a stronger position to reach their business objectives. This transaction is also proof that the market is ready for sale and leasebacks and that the largest landlords are often the most dynamic ones.’
With the acquisition CTP’s Romanian portfolio has reached the 2.5 million m2 GLA milestone of modern warehouses.
