CTP N.V. has plans to enter the logistics real estate market in Germany with an €800 million ($928 million) public takeover and delisting offer for Deutsche Industrie REIT-AG (DIR), in line with CTP’s communicated growth strategy.
DIR’s portfolio consists of 1.6 million square meters (17 million square feet) of logistics space on 3.9 million square meters (42 million square feet) of land, with a country-wide network of 665 tenants in 89 assets in 12 of the 16 German Federal States.
Remon Vos, founder and CEO of CTP, said, “CTP is quickly delivering on the Pan-European active growth strategy we outlined during our IPO earlier this year. Through our proposed acquisition of Deutsche Industrie REIT-AG, we create a meaningful entry into the German logistics and industrial real estate market. We are buying a portfolio of scale, below replacement value, where we believe we can increase rental values, improve operating margin and realize redevelopment potential. CTP w
