Logistics real estate
Entry into a new growth phase
CTP Deutschland, a portfolio holder, project developer and manager of logistics, commercial and industrial real estate, has entered its next growth phase in Germany following the acquisition of Deutsche Industrie Reit-AG (DIR) around two years ago.
After building up the organization in 2022 and 2023, CTP achieved good results in its German portfolio in 2023. In 2023, CTP newly let 155,000 square meters within the former DIR portfolio, with an average monthly rent of EUR 5.1 per square meter. This was 57 percent higher than the average monthly rent from the financial year (FY) 2022. The average monthly rent for the entire portfolio in FY 2023 was EUR 3.5 per square meter. CTP's total German rental income increased from EUR 59.7 million at the time of the DIR takeover to EUR 69.7 million at the end of 2023.
CTP acquires around 781,000 square meters of land in 2023
In spring 2023, CTP announced a multi-year investment plan of EUR 300 million to expand its network of CTParks in Germany. In 2023, CTP acquired a total of 781,000 square meters of land with the possibility of developing around 370,000 square meters of gross leasable area (GLA) in the coming years. The company has already started the conversion and expansion of CTPark Weiden. Heineken is a tenant there, which will increase the gross lettable area of the park to 60,000 square meters. CTP has also started construction of 32,400 square meters of gross lettable area at CTPark Bremen.
High-tech business park in Mülheim an der Ruhr
Recent acquisitions include a 335,000 square meter site in Mülheim an der Ruhr, where CTP plans to develop a new high-tech business park in cooperation with the local municipality. CTP is also developing a 130,000 square meter site in Wuppertal to create a business park focused on research and development. CTPark Krefeld is also undergoing a redesign and expansion of 60,000 square meters.
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