CTP invests 40 million Euro in the acquisition of A1 Bucharest Park

CTP industrial parks developer acquired A1 Bucharest Park during a transaction valued at approximately 40 million euro. The developer already owns other three properties in the vicinity of Bucharest: CTPark Bucharest West, CTPark Bucharest and CTPark Bucharest Chitila. The logistics project A1 Bucharest Park was developed by AIC RE and bought by CTP from Vabeld Group, the transaction being concluded on the 27th of June 2019.

The newly acquired land and buildings shall be fully integrated in CTPark Bucharest and will benefit of the same management standards as the rest of the park, including comfortable landscaping and property management. The project covers 14 ha of land on which are developed eight warehouses, fully occupied, with a total GLA of 78,000 sqm. The diversified tenant base includes nationally and internationally important retailers and logistics players, such as Delamode, Augsburg, Kalapod etc.

“This acquisition represents a significant opportunity to consolidate CTP’s presence at km 13, where we already have one of the main hubs in Romania. I do believe in Romania’s development capabilities in terms of infrastructure and attraction of new investments. The acquisition will enable CTP to access a new range of tenants that prove strong opportunities to grow their operations in Romania”, stated Remon Vos, CTP’s CEO.

CTP has been financed by Alpha Bank and assisted by CMS Cameron McKenna. CTP was sustained in this transaction by the law firm NNKDP and the financial and tax part was led by Mazars.