CTP continues expanding in Central Europe, with the recent acquisition of Westlog DC (Distribution Centre) 10 km from Budapest’s city centre. The park is situated west of the city, directly on the M1 motorway, near the junction of the main north-south M7 and the M0 ringroad.
The acquisition, carried out with the support of financial partner, K&H Bank, adds an additional 82,000 sqm to the CTP Hungarian portfolio. CTP is looking forward to deepening itsrelationship with K&H Bank on additional transactions in the future.
CTP entered the Hungarian market in Q4 2015 and has grown mainly through acquisitions, working with local banking partners, to develop a portfolio of 220,000 sqm. In addition, CTP is currently constructing nearly 50,000 sqm for various clients in its Hungarian parks. CTP plans to grow the portfolio both through new construction and acquisitions to 500,000 sqm by 2018. To enable expansion, CTP has built a local team of seven professionals who cover asset management, project and facility management, as well as business development and finance.