CTP industrial parks developer in Romania and Central and Eastern Europe, closed a EUR 82 million credit facility with BRD-Groupe Société Générale and Komerční banka, a major Czech bank and member of the Societe General international financial group. This is one of the biggest real estate finance transactions on the local market within the first half of 2019.
BRD Groupe Société Générale S.A. and the Czech subsidiary of Société Générale, Komerční banka, a. s., granted the term loan credit facility to the real estate developer CTP, in order to sustain its investments in Romania in one of its logistics parks, CTPark Bucharest West.
“We are proud to sustain the development plans of our client, especially so as Romania develops at a very fast pace and thus requires modern and reliable infrastructures and in particular logistic hubs”, said Yves Lallemand, BRD Deputy CEO in charge of Corporates Business.
CTP is a full-service commercial real estate developer building, and managing custom-built, high-tech business parks throughout Central and Eastern Europe. CTP has a significant portfolio of A-class parks in Romania, including in Bucharest, Arad, Cluj, Timisoara and other locations across the country, totaling a built-up area over 1 million square meters. The developer has invested nearly EUR 500 million in Romania since entering the market, and plans to develop further.
CTPark Bucharest West is one of the largest master-planned industrial parks not only in Romania but also in Central and Eastern Europe. Currently, the property comprises
400,000 sq m built up area and is planned to reach 1 million sq m in the coming years, aiming to transform Romania in a logistics hub in Eastern Europe.
“I think it is a very good match to have one of our best projects financed by a club of reliable, highly professional banks like BRD-Groupe Société Générale and Komerční banka. We thank them for the commitment and for the hard work needed to put in place such a transaction, which is one of the largest within this half of the year in real estate in Romania”, said Ana Dumitrache, Country Head of CTP Romania.
CTPark Bucharest West is prominently located 23 kilometers west of Bucharest City Centre, and has direct access to the A1 high-way. Among the biggest companies that carry out their activity in the park are: Ekol Logistics, Quehenberger Logistics, Geodis, Gefco, NOD (Network One Distribution) etc. The future investment plans for CTPark Bucharest West include the further development of the on-site facilities and services that will consist in a multifunctional building including restaurant, cafeteria, a medical center, a supermarket, and office spaces. Also, Bucharest West means not only warehousing but a good business environment and CTP is committed to invest into the infrastructure of the park together with the other residents in the area so that it gets functional, efficient and aesthetic to the benefit of the people working but also living in the neighborhood.
A cross-border Dentons legal team advised the lenders on this complex multi-jurisdictional transaction.