Industrial and logistics developer CTP reported like-for-like rental growth of 4.8% in the first quarter across its investment portfolio in European markets.
7R has finalized the sale of a portfolio of several projects to CTP Group. The portfolio includes projects in the development phase, such as in Warsaw and Katowice, as well as others throughout Poland which are in the pre-development phase.
Inflation is putting pressure on developers to increase rents. Luckily, in some markets, such as the Czech logistics market, buoyant demand is helping drive rental growth. Jakub Kodr, Head of Business Development at CTP Czech Republic talked to Property Forum about the company’s expansion plans, dealing with inflation and changing demand dynamics.
Industrial developer CTP reported a net profit of €1 billion in 2021, up 306% year-on-year over expansion across the Central and Eastern Europe markets and increasing demand for warehouse space.
CTP has committed €10 million to the UN refugee agency UNHCR to provide humanitarian support for more than one million people, mainly women and children, who have fled the war in Ukraine into neighbouring countries.
CTP has completed the takeover and delisting offer for Deutsche Industrie REIT-AG (DIR), which provides immediate scale in Europe’s largest economy. Germany now represents about 15% of CTP’s portfolio and becomes its third-largest market by gross asset value after the Czech Republic (42%) and Romania (21%).
U.S. logistics giant GXO lands at CTPark Bor. This large unit in the size of 60,000 sqm will lift the Czech/German border market hotspot hub to full capacity. It will boost the development demand at CTP satellite sites in Aš and Cheb too, the company reports.
CTP has closed a €700 million four-year green bond under its €8 billion euro medium-term note (EMTN) programme. Total demand for the issue peaked at circa €1.3 billion, reflecting the solid reputation CTP has built with investors in corporate green bonds in the 15 months since the company entered the capital markets for funding.
CTP’s portfolio of industrial and logistics spaces in Romania reached 2.1 million sqm in January 2022, with representatives of the company suggesting that the country can become a logistics hub for the region.
Elegance Decor, the home & deco company, has leased 400 sqm in Bucharest-based Equilibrium 1 for its new office. The building has a total leasable area of 20,700 sqm and was developed by Skanska.
Majorel Polska, an international outsourcing services provider has extendied a lease agreement for the next 2 years and leased additional 400 meters for a new project - IT Hub in recently modernised Globis Poznań by GTC. It now occupies 3 200 sqm of A-class workspace. CBRE has advised Majorel Polska on concluding the lease contract.
NEPI Rockcastle Poland has extended its office lease agreement and enlarged its premises in the Cosmopolitan Twarda 4 building in Warsaw city centre. The shopping centre owner and operator now occupies 1,500 sqm of offices in the building.
New appointments
Tamás Kiss has joined Hungarian asset management company Diófa Alapkezelő Zt. and has been appointed deputy CEO. Previously he worked for several brokerage firms as a director of asset management and director of investment or compliance unit.
Tomasz Pietrzak, with MLP Group for more than five years, has been promoted to the position of Leasing Director Poland. Until recently responsible for the commercialisation of warehouse space in the Warsaw region, now he will manage leases across Poland.
Savills has hired Dušan Drábek who joins its industrial agency team with immediate effect. Based in Savills Prague office, the new Associate Director will work alongside the Head of Industrial Agency, Chris LaRue.
Property Forum is a leading event hub in the CEE real estate industry with nearly 10 years of experience. We organise conferences, business breakfasts and workshops focused on real estate, in London, Vienna, Budapest, Bucharest, Bratislava and Prague, amongst other locations.
I have read the Privacy Policy of International Property Network Inc. and I consent to International Property Network Inc. sending me newsletters and managing my personal data provided for this purpose.