CTP expands in Romania, acquires 270,000 sqm warehouse and 30 ha landbank

CTP, Europe’s largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), has acquired from Globalworth an industrial portfolio of 270,000 sqm GLA and 30ha landbank in six locations in Romania.

The portfolio is comprised of six industrial parks in the vicinity of CTP’s parks (Bucharest, Arad) and complementary locations strengthening CTP’s footprint in the area (Pitesti, Oradea, Timisoara).

Remon Vos, CEO of CTP Group: “This acquisition significantly expands our Romanian portfolio by adding over 270,000 sqm and introduces 40 new names to our diverse tenant roster. We are proud to welcome each new tenant into our CTP family. Additionally, the acquisition includes 30 hectares of excess land, which enables us to further our commitment to organic development in Western Romania. This development will not only benefit our tenants but also contribute positively to the local communities.”

“By divesting these non-core assets, Globalworth reaffirms its commitment to focusing on its main competencies in the office segment, where we hold competitive advantages. This sharpened focus will enable us to dedicate more resources to expanding our key operations, fostering innovation, and delivering enhanced value to our tenants and shareholders. It will also significantly increase our liquidity, providing the company with the capital necessary to seize strategic opportunities as they arise.”, said Dennis Selinas, CEO of Globalworth.

This acquisition represents a significant milestone for CTP’s Romanian portfolio, as it reaches the 2.91 million sqm GLA milestone of Class-A sustainable modern warehouses.