Location:
- South part of Arad (Western area of Romania, close to the border with Hungary)
- Direct access to the new Bucharest – Timisoara – Arad – Budapest highway
PROJECT FEATURES
Status: Exited (CTP owned)
Location: Arad
Leasable Area: 47,000 sqm
Land Area: 94,000 sqm
Completion: 2015
Major Tenant: n/a
PROJECT HIGHLIGHTS
The Project was foreclosed by a bank following the onset of the financial crisis. AIC srl acting on behalf of CTP supervised the acquisition of the bank receivable and the subsequent restructuring process.
The Project was recently completed and renamed CTPark Arad in April 2015, after its adding to CTP portfolio, featuring the CTSpace building type.
The Park had 3 tenants at the time of the transaction: Gefco Romania, Gebrüder Weiss and Schenker Romania.
Development on the project started in the pre-crisis period but was later foreclosed due to financial issues. The development was acquired and completed by CTP in 2015.
The Park had 3 tenants at the time of the transaction: Gefco Romania, Gebrüder Weiss and Schenker Romania.
