CTP, Europe’s largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), has acquired from Globalworth, the leading office investor in Central and Eastern Europe (CEE), an industrial portfolio of 270,000 sqm GLA and 30ha landbank in six key locations in Romania.
The portfolio is comprised of six industrial parks providing an appropriate mixture of locations 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, stated, “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.
“Our brokerage firm was honored to assist CTP in acquiring a part of Globalworth’s wholly owned logistics portfolio in Romania, leveraging our deep market knowledge and strategic approach to facilitate this landmark transaction in the region’s real estate landscape.”, said Alessandro Gallinella, founder AGBC.
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. This expansion positions CTP for further growth and expansion.
ABOUT CTP
CTP is Europe’s largest listed owner, developer, and manager of logistics and industrial real estate in terms of gross lettable area, with 12.0 million sqm GLA in 10 countries (as at 31 March 2024). The company certifies all new buildings under BREEAM at ‘very good’ or above and has achieved a low-risk ESG rating from Sustainalytics, reaffirming its commitment to sustainability. For more information, please visit: www.ctp.eu.
ABOUT GLOBALWORTH
Globalworth is a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange. It has become the pre-eminent office investor in the CEE real estate market through its market-leading positions both in Poland and Romania. Globalworth acquires, develops and directly manages high-quality office and industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by 269 professionals across Cyprus, Guernsey, Poland and Romania the combined value of its portfolio is €3.0 billion, as of 31 December 2023. Approximately 96.8% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of over 715 national and multinational corporates. In Poland, Globalworth is present in Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice, while in Romania its assets span Bucharest, Timisoara, Constanta, Pitesti, Arad, Oradea, Targu Mures and Craiova.