CTP to acquire Amsterdam Logistic Cityhub for $345m.

CTP, an industrial property developer in Europe, agreed to acquire Amsterdam Logistic Cityhub, a provider of zero-emissions logistics services based in Amsterdam, for for $345m. “We are extremely proud to have been able to conclude this agreement and look forward to an intensive cooperation with the City of Amsterdam and Port of Amsterdam. There’s a strong demand for such logistics business space in the Amsterdam region and we expect this demand to only increase. Currently, the supply and the development pipeline in the region with a vacancy rate of approximately 6% are limited. The multi-tenant, sustainable and multimodal character of Amsterdam Logistic Cityhub combines all the aspects of a CTPark in one building. The acquisition is a wonderful addition to the CTP network and a great step in our ambition to accelerate our growth in the Netherlands," Ralph de Munnik, CTP Director.