FRANKFURT, GERMANY: CTP N.V. has completed the takeover and delisting offer for Deutsche Industrie REIT-AG (now named Deutsche Industrie Grundbesitz AG, DIR”), which provides immediate scale in Europe’s largest economy.

CTP Germany now represents about 15% of CTP’s portfolio and becomes its third largest market by gross asset value after the Czech Republic (42%) and Romania (21%).

The current portfolio is well positioned to satisfy demand for highly sought after smaller urban logistic assets, which are integral to occupiers’ abilities to respond swiftly to consumers fast growing ecommerce demands and form the bedrock of CTP Germany’s future strategy.

The portfolio offers significant growth potential through increasing occupancy levels, rental increases, and development opportunities.

CTP Germany plans to invest an additional €1.0 billion in development projects over the next five years. It will leverage its ‘park-making’ capabilities to comprehensively upgrade and drive the sustainability credentials of the previously undermanaged DIR assets and implement a disciplined development strategy to double CTP Germany’s current GLA to 3.2 million sqm by 2026.

Udo Stöckl, formerly principle and managing partner at advisor Avison Young in Germany, has been appointed Chief Operating Officer at CTP Germany reporting to CTP and Germany CEO Remon Vos. Mr Stöckl has an extensive track record in real estate management in Western Europe and North America. Most recently, he led the successful entry of Avison Young in Germany.

Remon Vos, CTP and CTP Germany CEO, said: “The German market is a compelling investment opportunity as it allows us to expand CTP’s network to meet growing occupier demand for urban logistics in one of Europe’s strongest economies. We will now be able to offer existing and new customers access via CTP’s platform to the trans-European supply chain network across markets from the Black Sea to the North Sea.

We have identified multiple opportunities to significantly enhance CTP Germany’s portfolio by applying the same disciplined development and operational skills that have perfected in Central and Eastern European markets over the past 23 years.

We will bring the portfolio up to our demanding ESG standards over time, maintaining our lead as the only major pan-European industrial and logistics real estate company with a 100 percent BREEAM-certified portfolio of ‘very good’ and above.”

CTP Germany’s five-year (2022-2026) business plan will involve two strategies intended to create optimal value for stakeholders. To deliver this focused strategy, the Company will recruit dedicated regional teams in four locations comprising some 50 people, including the current DIR employees.

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. www.ctp.eu