CTP, Europe’s largest listed owner, developer and manager of high quality industrial and logistics real estate by gross lettable area (“GLA”), has acquired an industrial portfolio of warehouses totalling over 100,000 sqm in Romania from French FM Logistic, a leading supply chain services company operating across Europe, which will continue as a CTP tenant for the long term.
The portfolio is comprised of three industrial parks located in the vicinity of CTP’s largest parks in Bucharest, Pitesti and Timisoara and strengthens CTP’s footprint in these cities and on the Bucharest – Pitesti highway axis.
Ana Dumitrache, Managing Director CTP Romania, said:
“Our philosophy is founded on developing solid partnerships and this deal demonstrates that principle. 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.”
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.
Andreea Enescu, Transaction Director CTP Romania, said:
“This acquisition increases our Romanian portfolio by over 100,000 sqm, all of which is fully let. The extensive excess land from which all three locations benefit will allow for organic development of the investment, which will benefit all stakeholders, from tenants to the local communities.”
FM Logistic was founded in France in 1967, to deliver supply chain services in Europe, serving customers in the FMCG, retail, beauty-cosmetics, industrial manufacturing and healthcare industries and has been active in Romania since 2003.
Alexander Pavlov, Country Managing Director FM Logistic Romania, said:
“The beginning of our long term partnership with CTP will enable the Romanian team of FM Logistic to sharpen its focus on the operational and client-related aspects of our supply chain services, while continuing to fully maintain our current multi-client base and the potential for development extensions as the opportunities arise. 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.”
The real estate transaction was advised on the sale-side by CBRE Romania.
Mihai Pătrulescu, Head of Investment Properties at CBRE Romania, stated:
“We are thrilled to have assisted FM Logistic in creating a partnership with one of the most reputable landlords in the market and we believe this transaction leaves them in a stronger position to reach their business objectives. This transaction is also proof that the market is ready for sale and leasebacks and that the largest landlords are often the most dynamic ones.”
With the acquisition of these new spaces, CTP’s Romanian portfolio has reached the 2.5 million sqm GLA milestone of class-A sustainable modern warehouses.