CTP has purchased three industrial parks in three Romanian cities from FM Logistic, a French supply chain services company, for an undisclosed sum.
The sale and leaseback transaction was structured and implemented by the CTP Romania transaction team with in-house support from the property management and financial functions. Following the transaction, FM Logistic will continue as CTP's tenant for the long term.
“We are kick-starting a strategic alliance with a highly professional and specialized logistics operator, FM Logistic, who have been present in the Romanian market for over 20 years. The result is the acquisition of a state-of-the-art portfolio with highly efficient warehouses complementing our existing stock and consolidating CTP’s presence in key locations that are increasingly perceived as regional hubs,” said Ana Dumitrache, Managing Director of CTP Romania.
The newly acquired parks in Bucharest, Pitești and Timișoara are close to CTP’s own projects and span over 100,000 sqm.
“FM Logistic will continue to develop our sustainable omnichannel supply chains in Romania and the core of our strategy will remain the delivery of high added-value services, ensuring business continuity as we transition to the new way of working,” said Alexander Pavlov, Country Managing Director FM Logistic Romania
Real estate consultancy CBRE worked with the seller on the deal. Mihai Pătrulescu, Head of Investment Properties at CBRE Romania, stated that this transaction shows proof that the market is ready for sale and leasebacks and that the largest landlords are often the most dynamic ones.
With this acquisition, CTP’s portfolio in Romania has reached 2.5 million sqm of warehouses.
