CTP Germany launches with €1b in last-mile logistics development targets

CTP Germany has plans to invest €1 billion ($1.1 billion) in targeted developments and redevelopment in mainly last-mile urban logistics assets over the next five years, as former Deutsche Industrie REIT (DIR) portfolio is integrated into CTP’s pan-European platform.

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 gross leasable area to 3.2 million square meters (34 million square feet) by 2026.

The firm has completed its takeover and delisting offer for Deutsche Industrie REIT (renamed Deutsche Industrie Grundbesitz), which provides immediate scale in Europe’s largest economy. Germany now represents about 15 percent of CTP’s portfolio and becomes its third-largest market by gross asset value after the Czech Republic (42 percent) and Romania (21 percent).

Remon