CTP, the European Bank of Reconstruction and Development (EBRD) and BCR announced the closing of a credit facility totalling €75.8m, of which €36.7m were granted by EBRD and €39.1m by BCR. The loan will support the expansion of CTPark Bucharest West by two new warehouses totalling over 70,000 m². The total investment in this expansion phase will reach €108.9m. With a total planned 600,000 m² lettable area, CTPark Bucharest West is designed to become the biggest, as well as fastest growing industrial park in the country and the region. BCR acted as mandated lead arranger, documentation, facility and security agent.
“We are very pleased to reach this agreement that helps us take another major step towards making CTPark Bucharest West the most important logistics park in Romania, in terms of total surface, but also development pace and standards of quality. We aim to be a strategic park for the Romanian economy through the support we offer for significant investments, both foreign and local. This loan also represents the first cooperation between CTP and EBRD, alongside our long term financial partner, BCR (at local level) and Erste Bank (at group level). Moreover, we are confident that this will only be the beginning of a fruitful collaboration between CTP and EBRD!”, stated Ana Dumitrache, Country Head of CTP Romania.
Matteo Patrone, EBRD Director, Regional Head for Romania and Bulgaria, said: “We welcome CTP’s drive for green certification, which is not yet standard in the Romanian logistics market. Green leases are also a new feature in the logistics sector in Romania, which will not only benefit the cooperation with tenants but will strengthen CTP’s competitiveness in the market.”
Sergiu Manea, CEO of BCR, commented: “We believe in CTP’s strategic call to develop high-tech business parks for leading international and domestic companies making strategic investments in Central Europe and Romania. In particular we believe that we can support Romania’s competitive edge in the region by financing strategic projects in logistics infrastructure. We are thankful to CTP for offering the opportunity to be their financial partner in this project.”