March 30 (SeeNews) - Czech industrial property developer CTP said on Thursday that it has acquired a portfolio of warehouses in Romania totalling over 100,000 sqm from French supply chain services company FM Logistic, which will continue as a CTP tenant for the long term.
The portfolio consists of three industrial parks located in Bucharest, Pitesti, and Timisoara, CTP said in a press release, without disclosing the value of the transaction.
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The acquisition strengthens CTP’s footprint in these cities and on the Bucharest – Pitesti motorway axis and brings its Romanian portfolio to 2.5 million sq m of gross lettable area, the company said.
The acquisition of a portfolio with highly efficient warehouses complements CTP's existing stock and consolidates CTP’s presence in key locations that are increasingly
perceived as regional hubs, said Ana Dumitrache, managing director of CTP Romania.
The French company was established in 1967 and is currently active in 14 countries across Europe, Asia and Latin America. It has been present on the Romanian market since 2003.
CTP is a full-service commercial real estate developer which builds, manages and delivers custom-built, high-tech business parks throughout Central and Eastern Europe. In Romania, the company owns warehouses with a total area of 2.5 million sq m in 15 cities.