May 28, 2024 15:21 GMT
CTP: Acquisition
REAL ESTATE
CTP NV (CTPNV: Baa3/BBB-): Acquisition
CTP acquired 270k sqm of Warehouse space plus 30ha of landbank from Globalworth (GWILN: BB neg / BBB- neg)
- Bloomberg doesn’t report the transaction’s value, but trade press puts it at €170m.
- This represents a 2.25% increase in GLA so not game changing.
- It does, however, emphasise the difference in strength between GWILN and CTPNV which trade 350-430bps apart in spite of both being rated BBB- by Fitch.
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