Listed Belgian real estate investment company Warehouses De Pauw (WDP) has sold its Czech subsidiary to domestic logistics property company CTP Group. The transaction values WDP's Czech business at EUR 25 mln.
Listed Belgian real estate investment company Warehouses De Pauw (WDP) has sold its Czech subsidiary to domestic logistics property company CTP Group. The transaction values WDP's Czech business at EUR 25 mln.
The subsidiary owns five existing logistics complexes with additional development space. The largest asset is Mlada Boleslav industrial park in Neprevazka, northeast of Prague. It comprises 24,590 m2 of warehouses, 3,936 m2 of offices, 1,416 m² for other purposes and a 24,000 m2 development zone.
Euronext Brussels-listed WDP said the sale was part of its strategy to refocus on its core Western European markets (Belgium, France and The Netherlands), with Romania as a supplementary component to its activities. The proceeds of the sale will be re-invested in WDP's development project at Zwijndrecht in Antwerp port.
