CTP expands Hungarian portfolio

Deals

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CTP signed an agreement to purchase two logistics sites in Hungary with a combined floor space of 66,000 square meters from Raiffeisen Group member DAV Property Kft., according to a press release issued today.

CTPʼs facility in Üllő.

The new properties, acquired using a loan from Raiffeisen Bank Zrt., have increased the total floor space of CTP’s warehouse facilities in Üllő, close to capital Budapest, to 100,000 square meters – and that of its total Hungarian industrial property portfolio to 135,000 square meters.  

According to CTP, Hungary and the region have lately seen rising demand for new industrial lease property of an appropriate quality. In addition to simple warehousing functions, an increasing number of customers are looking for property that includes more complex and personalized technical infrastructure.

“We are pleased to finalise the acquisition of two additional properties in CTPark Üllő, which now totals more than 100,000 sqm of premium lettable space,” said Radek Zeman, CTP CFO. “The acquisition was made possible thanks to close cooperation with Raiffeisenbank, with whom we have a strong relationship in Hungary and across the CEE region. Hungary is a key expansion market for CTP, and we look forward to developing our portfolio here in the future.”

CTP’s lease portfolio in Hungary currently includes properties in Tatabánya, Mór, Üllő and Győr.

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