CTP acquires Rozália Park in Biatorbágy
Real estate firm CTP has acquired the 57,800 sqm logistics scheme Rozália Park from Challenger, at Biatorbágy to the west of the capital, as a continuation of its expansion in the Hungarian market, according to a press release sent to the Budapest Business Journal by Cushman & Wakefield, which brokered the acquisition.
“Hungary’s logistics sector has the strongest dynamics in Central Europe in terms of rental growth prospects, supply, vacancy rates and potential for yield compression. This is being increasingly recognized by investors, as demonstrated by this transaction,” said Mike Edwards, Head of Valuation & Advisory for Central Europe at Cushman & Wakefield.
“CTP is very excited about this acquisition. We entered the Hungarian market two years ago in order to offer domestic and international companies space for warehousing and manufacturing,” said CTP CEO Remon L. Vos.
CTP acquired the neighboring WestLog Distribution Center last year, which was rebranded CTPark Budapest West. CTP’s portfolio currently stands at 360,000 sqm of lettable area in the country, but it is growing its footprint through acquisitions and the simultaneous construction of new properties in Győr, Tatabánya and Budapest, said the press release.
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