CTP remains on track to grow its portfolio to 7.5million m² in 2021 with over 1 million m² under construction as of 31 March 2021,over 70% of which is pre-let. CTP’s Yield-on-Cost for these developments stayed strong at 11.5% (Q42020: 11.6%), well above thetarget of >10%.

"Capturingalmost 33% of new rentalsin our core CEE regionillustratesour dominant position as the largest logistics property owner and developer in the region,” commented Remon Vos, CTP’s Group CEO. “We keep expanding our CTPark Network in deploying our market-leading landbank and our integrated teams in nine countries, working with our loyal tenant base of over 700 logistics and light industrial companies. New rental activity showed strong momentum as our clientscontinued to expand in our region with new long-term rentals of 397k m²in Q1. Our strong start thisyear means that we are on course for realising our 7.5 million m² GLA target for 2021, and we are well on our way to our target of 10 million m² lettable area by the end of 2023.”

During the first quarter of 2021, CTP continued its further geographic expansion in the first Western European markets, beefing up operations in theNetherlandsandAustria.

Through its IPO on 25 March 2021on the Euronext Amsterdam stock exchange, CTP reached a new milestone in its 22 years of existence. The company raised net proceeds of EUR 819 million and following the exercise of 6.7million shares from the green shoe option, the stock now commands a 17% free float. Market capitalisation as of 11 May 2021 reached EUR 5.8billion(up from IPO capitalization of EUR 5.6billion).

Earlier, on18February, CTP also issued a third6-year Green Bond underits EUR 4.0 EMTN programme, raising EUR 500 million for 6 years at a 0.75% coupon. After prepaying secured bank debt, CTP’s average cost of debt stands at 1.6% by the end of March 2021 (compared to 2.2% end of September2020, immediately prior to its first bond issuance).