CTP enters Hungarian real estate market

Industrial

pixabay

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.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.