According to CTP, Cefin Arad has a total area of 93,000 square meters and will be included in CTP portfolio as CTPark Arad. The company targets new business opportunities in Romania, which is considered the next key market for expansion.
The current tenants of the park include Gebruder Weiss, Schenker and Gefco.
The industrial park constructed in 20111 by Italian group Cefin in the western city of Arad was put up for sale last year by its legal administrator, as it went insolvent following debts worth RON114 million (EUR26 million), most of them to Volksbank.
Last month, CTP bought Mercury Logistics Park project near Bucharest-Pitesti highway, from US investment fund Heitman.
CTP is one of the main developers and administrators of industrial parks in Central and Eastern Europe, with a portfolio of nearly 2.5 million square meters and income from leases of EUR120 million.