Prologis Inc., industrial real estate company, today announced it has entered into a definitive agreement whereby CTP will acquire Prologis Park Bucharest A1 in Romania. The binding agreement is subject to customary closing conditions.
Developed between 2007 and 2008, the park’s four buildings comprise 107,770 square metres of Class-A industrial space. Each building has an A rating Energy Performance Certificate. The park, which includes 36.4 hectares of land for potential development, is located along the Bucharest-Pitesti highway, Romania’s primary east-west interstate motorway, and is approximately 23 kilometres west of downtown Bucharest. It is the only park developed by Prologis in Romania.
“CTP focuses on central European markets and has recently extended the number of projects in Romania, in particular to accommodate existing clients. CTP builds industrial property for manufacturing companies and the portfolio will reach 3 million square metres by year end,” said Remon Vos, CTP CEO.
JLL real estate agency represented Prologis in the transaction process.
As of June 30, 2015, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 62 million square meters (670 million square feet) in 21 countries. The company leases modern distribution facilities to more than 5,200 customers, including third-party logistics providers, transportation companies, retailers and manufacturers.
CTP is a Dutch-based, full-service commercial real estate developer and manager, specializing in the delivery and management of custom-built, high-tech business parks for leading international and domestic companies making strategic investments in new or expanded operations in Central Europe. CTP is the owner of the CTPark Network (including CTPark Bucharest West, CTPark Deva and CTPark Turda in Romania), the largest integrated system of premium business parks in Central Europe, with over 2.5 million square meters of A-Class properties in 55 locations.