CTP Second Large Vallourec Brownfield in Germany

Yesterday afternoon, CTP announced the acquisition of a large brownfield site from Vallourec in Düsseldorf. This deal, valued at €155 million, involves an industrial site spanning over 830k sqm. CTP will invest over EUR 700m to transform the site for manufacturing, R&D and logistics. The site was previously used for Vallourec's tube production. CTP closed a similar Mülheim deal with Vallourec, completed in December 2023. This involved a 335k sqm. Both deals are part of CTP's strategy to redevelop brownfield sites into modern industrial and logistics parks. VGP also struck large brownfield deals in Germany and France to add to their landbank as Greenfields have become scarce, expensive and often difficult to get permitted in Western-Europe. KBCS will host a panel on the potential of Brownfields in Western-Europe on our Real-Asset conference on 19 March. CTP hinted at a CMD next year in Dusseldorf over 2H25 at the last CMD, so this project could be part of the property tourEnter Summary Here