German real estate investment company Deka Immobilien has acquired a logistics portfolio in the Czech Republic from the commercial real estate developer CTP group.
“The transaction volume of 460 million euros 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 service to our business partners in the logistics parks,” said Michal Felcman, head of mergers and acquisitions at Deka Immobilien.
Including two development projects, the portfolio contains 36 modern buildings fully occupied by more than 50 well-established tenants, with a total leasable area of around 430,000 square metres. The portfolio also includes two large industrial parks, CTPark Teplice and CTPark Plzen, which contain a mix of logistics and light industrial properties.
CTP Group will continues to manage and operate the portfolio under the CTPark network brand.
“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,” said Remon Vos, CEO of CTP.
“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,” added Richard Wilkinson, CFO of CTP Group.