UBM sells logistic park in Bucharest for €17 mn to CTP Invest
Vienna (02 October 2017) “Fast Track 2017” continues full steam: UBM Development has executed the sale of a major standing asset, the Romanian logistics park Chitila.
“On our path to becoming a pure play real estate developer, this sale is another step in implementing our strategy – the clear focus on the three core markets Germany, Austria and Poland and the three asset classes Hotel, Office, Residential”, said Andreas Zangenfeind, Head of Transactions and Member of the Executive Committee of UBM Development AG.
The Chitila Logistics Park (CLP), developed by UBM from 2007 till 2009, is located near Bucharest and is almost fully let. Tenants include the international logistics company Schenker, the newspaper printer Ringier Print and the pharmaceutical distributor Europharma. The property spans a plot of 93,000 m² and offers a modern, new-build logistics system with rentable areas from 1,750 m² to up to 45,000m². The units boast flexible options for storage, distribution and light industry.
Logistics hub with optimal infrastructure
The Chitila Logistics Park has a strategically advantageous location and is well-connected to the west of Bucharest, directly on the Ring Road, not far from the A1 (E81) or DN1 (E60) motorways and 16 km from Henri Coanda Airport, Bucharest. All key commercial areas for logistics are in the direct vicinity and the railway terminals Chitila and Pajura are also nearby.
Impact of the sale on UBM
The transaction has a direct impact on net debt, total output and revenue upon handover of the standing asset.
|Time of taking effect||Q3/201|
|Net sales proceeds||approx. EUR 17 mn|
|Effect on total output||100%|
|Effect on revenue||100%|
|Effect on net debt||100%|
The vendor was advised by Eisenberger & Herzog Rechtsanwalts GmbH.
UBM Development AG is the leading hotel developer in Europe. The strategic focus is on the three clearly defined asset classes Hotel, Office and Residential and the three core markets Germany, Austria and Poland. With 144 years of experience, UBM focuses on its core competency – developing real estate. The UBM share has been listed on the prime market of the Vienna Stock Exchange since August 2016. www.ubm.at
UBM Development AG
Head of Investor Relations & Corporate Communications
Tel.: +43 50 626-1763