CTP has sealed a long-term strategic partnership with Deka Immobilien involving three prime industrial parks in the Czech Republic - CTPark Plzeň, CTPark Prague North and CTPark Teplice. Deka Immobilien acquired the ownership stakes in the parks with CTP Group continuing to manage and operate the portfolio under the CTPark network brand. Including two development projects, the deal represents 430,000 sqm of premium industrial properties. The transaction volume of €460 million places the deal amongst the largest ever real estate transactions in the Czech Republic.
Deka Immobilien, the largest German institutional investor, and CTP, the leading industrial developer in CEE have entered into a strategic 10-year partnership. “We selected Deka as our partner, as we share the same strategy of long-term ownership and further development and enhancement of the properties through which we provide added value to our clients,” says Remon L. Vos, CEO of CTP.
Remon Vos
CEO
CTP
The industrial parks in this transaction represent prime CTP locations in Western Bohemia and the Prague region. The portfolio consists of 36 Class A buildings fully occupied by more than 50 well-established tenants.
“The transaction volume of €460 million places the deal amongst the largest ever real estate transactions in the Czech Republic. This long-term cooperation established between CTP and Deka will give continuity of services to our business partners in the parks,” comments Michal Felcman, Head of M&A who led the transaction together with Květa Vojtová, M&A Attorney heading the legal transaction team. CTP group was represented by Petr Pánek and Václav Kubr of White and Case, Prague.
“This transaction will help CTP to further invest in our business growth across the CEE region, continue to improve our facilities, increase the long-term value of our assets and ultimately deploy in new European locations,” adds Richard Wilkinson, CTP Group CFO.
Richard Wilkinson
Group CFO
CTP
