Blackstone has agreed to acquire CT Real Estate, a portfolio of 10 logistics parks, from TPG Real Estate for approximately €470 million. The deal includes acquiring a majority stake in Czech developer CONTERA’s industrial portfolio, with CONTERA retaining a minority position and continuing as property manager and developer.
The transaction represents a major milestone for CONTERA, which has built its industrial real estate portfolio to a value exceeding €500 million since its founding. The portfolio currently encompasses approximately 500,000 square meters of space across ten high-quality parks in the Czech Republic and Slovakia, serving leading global and domestic brands in logistics, e-commerce, and manufacturing.
“This strategic acquisition underscores our vision, project quality, and innovative approach to industrial property development,” said Dušan Kastl, CONTERA’s Executive Director. The deal follows a successful partnership with TPG Real Estate since 2019, during which the portfolio quadrupled in size.
James Seppala, Head of European Real Estate at Blackstone, emphasized the strategic value of the acquisition: “Logistics continues to benefit from strong user and investor demand, supported by e-commerce growth. These high-quality assets complement our existing pan-European portfolio and position us to capture further growth.”
CONTERA’s strategic focus remains on Prague, Ostrava, and Bratislava, with over 85% of its portfolio comprising brownfield redevelopment projects. The company is also expanding into office developments, retail properties, and Small Business Units through its CITYSITE concept, which offers flexible spaces for modern businesses.
Facilitated by Cushman & Wakefield, the transaction went through quickly, suggesting a strong alignment between both parties.
