CTP is pleased to announce that it 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 m2 of premium industrial properties.
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.
The industrial parks in this transaction represent prime CTP locations in western-Bohemia and the Prague region. The portfolio consists of 36 A-Class buildings fully occupied by more than 50 well-established tenants.
“The transaction volume of 460 mil EUR 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 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.
CTP is a full-service, commercial real estate developer and manager, specializing in the delivery and management of custom-built, high-tech business parks for leading international and domestic companies making strategic investments in its new or expanded operations. CTP is the owner of the CTPark Network, the largest integrated system of premium business parks in Central and Eastern Europe, with 4.9 million sqm of A-Class properties in more than 90 strategic locations.
Source : Company