CTP, the EU’s largest listed logistics and industrial developer and operator by gross lettable area, continues its expansion in Romania with the acquisition of a new project from the Mobexpert group, the largest producer and retailer of furniture and decorations from Romania. Through this new acquisition, CTP enters on Targu Mures and expands the partnership with Mobexpert to over 100,000 sqm of industrial and logistics spaces.
“We are opening a new market for CTP in Targu Mures, a regional hub with real impact in the Romanian economic and cultural environment. We also aim to have an impact in this community and to become a reliable partner for the companies present here, as we are for Mobexpert group. The success story of Mobexpert is amazing and we are happy to expand our partnership both in Targu Mures and in Bucharest”, said Ana Dumitrache, country head, CTP Romania.
By entering in Targu Mures, CTP is expanding its presence to 15 Romanian cities, and it consolidates its market leader position on the industrial and logistics sector, with a portfolio of over 2 million sqm. The sale and lease back deal marks the expansion of the collaboration started in 2020, through the acquisition of the main warehouse of Mobexpert, a 38,000 sqm building, that was ulterior integrated in CTPark Bucharest West, the largest industrial park of CTP.
At the same time, Mobexpert group leased of over 25.000 sqm of warehouse and office spaces in Bucharest, in the CTPark Bucharest North, located in the north of Bucharest. Thus, Mobexpert will now occupy a total area of approx. 100,000 sqm of industrial and logistics parks in Bucharest and Targu Mures.
„Mobexpert group needs over EUR 50 million in the next two years to develop its production and retail facilities. As a precaution, we prefer to assure at least 50% of the investment from private equity, to not increase the bank exposure, during such times when interest rates are obviously rising. We consider the deal with CTP to be a win-win partnership. We continue to use the spaces with very attractive contracts in terms of rent, whileCTP develops its core business and has Mobexepert as long-term client”, stated Dan Șucu, the president and owner of Mobexpert furniture and decoration network
The project recently acquired by CTP comprises three buildings with a total area of approximately 25,000 sqm of production and warehouses developed by Mobexpert within the Industrial Park Mures, in the vicinity of Transylvania Targu Mures International Airport.
The acquisition of Mobexpert properties in Targu Mures was led by the CTP’s dedicated transaction team through Andreea Enescu, Transactions Director. Legal advisorys was provided by the Constantinovici law firm, McCann and associates, part of The Law Chamber, under the coordination of partner lawyer Theodor McCann. The transaction was intermediated by Avison Young real estate consultancy company, with the support of David Canta, managing director.
About CTP
CTP is Continental Europe’s largest owner, developer and manager of logistics and industrial real estate by gross lettable area, owning over 7.1 million m² of space in nine countries per September 30, 2021. The company expects to expand its portfolio to 10 million m² GLA by year-end 2022, a year earlier than the target set out at its Euronext IPO at the end of March 2021. CTP is the only developer in the region with its entire portfolio BREEAM certified and on track to reach carbon neutral operations this year, underlying its commitment to being a sustainable business.
In Romania, CTP has a total area of over 2 million sqm of class A warehouses in 15 cities: Targu Mures, Arad, Brasov, Bucharest, Cluj-Napoca, Craiova, Deva, Oradea, Pitesti, Sibiu, Timisoara, Turda, Caransebes, Ineu and Salonta.
For more information, please visit www.ctp.eu
