The transaction marks the beginning of a fruitful cooperation between CTP and Olympian Parks, the seller of the portfolio, through a M&A (mergers and acquisitions) transaction which probably is the largest deal of its kind on the Romanian market in 2021.
Brasov (central Romania) thus becomes a new location on CTP Romania’s map, with seven buildings, most of which are leased, and with spaces available for lease. Also, Timisoara becomes the second location by surface area for CTP Romania, after capital Bucharest, by adding a new industrial park with five buildings leased, as well as with space immediately available for lease, in the vicinity of CTPark Timisoara, near the Timisoara Traian Vuia International Airport in Ghiroda.
“Our portfolio is now closer to the 2 million sqm milestone and we have also extended our presence in Romania, by entering Brasov, a new market for CTP. The park in Timisoara is nicely joining what will soon become the largest CTPark project outside Bucharest and its surroundings”, said Ana Dumitrache, Country Manager, CTP Romania.
The industrial parks acquired offer the possibility of expansion on the lands available adjacent to the buildings, perfectly matching CTP’s strategy of full flexibility, in order meet clients’ needs, including growth needs.
The transaction was structured and implemented by CTP Romania’s transaction team run by Andreea Enescu.
In 2021, CTP also acquired approximately 112,000 sqm of industrial spaces from Zacaria Industrial. In 2020, the company carried out a series of similar transactions, among which the A1 Business Park platform in Dragomiresti Vale, from Cromwell Property Group and the Equest Logistic Park industrial park located on A1 highway, near capital Bucharest, from Forum Serdika, being the most dynamic player on the industrial and logistics space market.
Following the new acquisition, CTP owns Class A warehouses in 13 towns and cities in Romania: Arad, Brasov, Bucharest, Cluj-Napoca, Craiova, Deva, Oradea, Pitesti, Sibiu, Timisoara, Turda, Ineu and Salonta.
In Central and Eastern Europe, CTP is the largest developer of Class A industrial and logistics parks, with a portfolio of 6.6 million sqm, which it seeks to expand to 10 million sqm until 2023.