Following this acquisition, the company is expanding CTPark Bucharest to over 500,000 sqm of lettable area, making it one of the largest logistical parks in the region, with more than 100 active clients,
The 12 buildings acquired are located within CTPark Bucharest and have areas ranging from 1,700 sqm to over 10,000 sqm.
“Our plan is to remodel the park to bring it up to CTP standards. The Cromwell portfolio includes a multi-purpose building that is currently not operational but will be brought back to life by mid-2021. We will use it to create a CTP Clubhouse that will include a restaurant and cafe area, a gym and conference rooms to support residents in attracting quality workforce,” said Andreea Enescu, CTP Romania transaction manager.
The acquisition was brokered by real estate company JLL.
CTP is the leading warehouse developer and manager in Romania, with a global lettable area of over 1.25 million sqm of Class A warehouses in ten cities: Arad, Bucharest, Cluj-Napoca, Deva, Pitești, Sibiu, Timisoara, Turda, Ineu and Salonta.