The European Bank for Reconstruction and Development (EBRD) and ING Romania will provide a EUR 96 million financing to logistics park developer CTP.
The EBRD will provide EUR 43.8 million while ING will contribute with EUR 52.2 million to this loan.
The investor will use the money to modernize and expand its CTPark Bucharest 52-hectare logistics park located on the A1 highway that connects Bucharest to Pitesti, 2 kilometers away from the capital. The loans will support the operation of several resource-efficient warehouses which host such tenants as telecommunications operator Orange, information management firm Iron Mountain, and global logistics company XPO Logistics. Part of the EBRD loan will also finance the construction of a warehouse.
Last year, the EBRD together with local lender BCR also extended a EUR 75.8 million loan for the construction of two new warehouses within CTPark Bucharest West, some 20 kilometers west of Bucharest.