CTP enters Hungarian real estate market
Commercial property developer and manager CTP, has recently entered the Hungary market through the purchase of a portfolio of industrial properterties completed at the beginning of this year, the company announced on its website. Through this acquisition, CTP has increased its total rentable area in Central Europe to over 3,250,000 sqm.
The acquisition comprises a 34,300 sqm logistics warehouse in Budapest near the M0 ring road, now renamed CTPark Üllő and a 6,203 sqm warehouse and production facility in Tatabánya, just west of the capital, renamed CTPark Tatabánya, the website noted. The financial partner in both acquisitions was UniCredit Group, Hungary, according to the company.
“CTP continues to acquire new properties in strategic locations across central Europe,” CTP CEO Remon Vos said, adding “both CTPark Üllő and CTPark Tatabánya are ideally located to suit a wide range of businesses, from logistics and warehousing to back office and light manufacturing.”
“The successfully executed acquisition underpins our strategy to grow both organically, and through acquisitions,” said Radek Zeman, CTP CFO.
CTP´s portfolio of A-class industrial properties spans approximately 3.2 million sqm and CTP anticipates a growth of five million sqm by the end of 2018, the website added.
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