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The EBRD and Banca Comerciala Romana (BCR) SA have joined hands to fund the expansion of the logistics park CTPark Bucharest West, nearly 20 kilometres from the Romanian capital.
The financiers have organized an EUR 75.8 million package, where the EBRD is offering EUR 36.7 million and BCR 39.1 million euros.
EBRD said the 100-hectare park is run by the Romanian unit of the property developer CTP, which owns the biggest portfolio of premium business parks in central Europe with more than 3 million square metres of gross leasable area of class-A properties in over 60 strategic sites.
BCRs facility will refinance a current loan for CTPark Bucharest West and the fund from the EBRD will finance the development of two new warehouses of over 70.000 square metre leasable area.
The two buildings will allow CTP to meet the growing demand for warehouse space from current clients as well as newcomers to the Romanian markets. The warehouses are expected to be certified under globlally recognised scheme like Leadership in Energy and Environmental Design (LEED) or BRE Environmental Assessment Method (BREEAM).
Matteo Patrone, EBRD Director, Regional Head for Romania and Bulgaria, stated: We welcome CTPs drive for green certification, which is not yet standard in the Romanian logistics market. Green leases are also a new feature in the logistics sector in Romania, which will not only benefit the cooperation with tenants but will strengthen CTPs competitiveness in the market.