CTP buys Ares-owned SLP logistics platform in Vietnam

The transaction is described as proposed and remains subject to completion.

SLP is owned by Ares Management Corporation. The acquisition comprises seven standing assets totalling 504,000 sqm of net lettable area, completed between 2022 and 2024, which generate over US$23 million of stabilised annual net operating income. It also includes six development sites with potential for about 585,000 sqm, with construction started on two of them. The portfolio has 59% of its space in northern Vietnam and 41% in the south.

CEO Remon Vos said Vietnam's manufacturing base and China Plus One demand make it a natural location for CTP's clients to expand. CTP said more than 55 employees across development, leasing, asset and property management will transfer to CTP as part of the deal.