Key Takeaways
- • CTP, Europe's largest listed logistics developer and operator by gross leasable area, agreed to acquire a Vietnam logistics portfolio and operating platform from Ares Management-owned South-East Asia Logistics Partners (SLP) for approximately $500m (€447m).
- • The portfolio comprises seven operational assets totalling 504,000 sqm of net leasable area and six development sites capable of delivering a further 585,000 sqm.
- • The deal marks CTP's major Asian expansion, following its entry into Vietnam in early 2026 through the acquisition of two development sites.
- • CEO Remon Vos cited Vietnam's manufacturing base, labour and energy costs, infrastructure, governance and political stability, and demand from clients pursuing 'China plus one' supply-chain strategies.
- • CIO Maarten Otte described the acquisition as the first major step toward CTP becoming a global industrial and logistics business, consistent with its disciplined capital allocation focused on cashflow and risk-adjusted returns.
Summary
CTP has agreed to pay approximately $500m (€447m) for a logistics portfolio and operating platform in Vietnam being sold by South-East Asia Logistics Partners (SLP), a vehicle owned by Ares Management Corporation, according to IPE Real Assets. The transaction covers seven operational assets with 504,000 sqm of net leasable area, along with six development sites that could deliver a further 585,000 sqm of space.
The acquisition is described as a major expansion for CTP into Asia. The company, which IPE Real Assets characterises as Europe's largest listed logistics developer and operator by gross leasable area, first entered Vietnam in early 2026 by acquiring two development sites. This latest deal adds an established local operating platform with a proven track record, which CTP CIO Maarten Otte said would accelerate the build-out of CTP Asia.
CEO Remon Vos linked the investment case to Vietnam's manufacturing base, favourable labour and energy cost structure, growing infrastructure, business-friendly governance and political stability, comparing these attributes to those that have supported CTP's success in Central and Eastern Europe. He said many of CTP's clients are seeking production expansion beyond China as part of 'China plus one' strategies, and that the deal would also strengthen relationships with existing Asian manufacturing and logistics clients.
Otte framed the transaction as consistent with CTP's disciplined capital allocation strategy, which targets strong cashflow generation and attractive risk-adjusted returns in markets with long-term structural tailwinds. He described Vietnam as CTP's first major step toward becoming a global industrial and logistics business.
The acquisition is described as a major expansion for CTP into Asia. The company, which IPE Real Assets characterises as Europe's largest listed logistics developer and operator by gross leasable area, first entered Vietnam in early 2026 by acquiring two development sites. This latest deal adds an established local operating platform with a proven track record, which CTP CIO Maarten Otte said would accelerate the build-out of CTP Asia.
CEO Remon Vos linked the investment case to Vietnam's manufacturing base, favourable labour and energy cost structure, growing infrastructure, business-friendly governance and political stability, comparing these attributes to those that have supported CTP's success in Central and Eastern Europe. He said many of CTP's clients are seeking production expansion beyond China as part of 'China plus one' strategies, and that the deal would also strengthen relationships with existing Asian manufacturing and logistics clients.
Otte framed the transaction as consistent with CTP's disciplined capital allocation strategy, which targets strong cashflow generation and attractive risk-adjusted returns in markets with long-term structural tailwinds. He described Vietnam as CTP's first major step toward becoming a global industrial and logistics business.
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