DUBLIN (S&P Global Ratings) Oct. 26, 2021--S&P Global Ratings today said that CTP N.V.'s (CTP) voluntary public takeover offer for German industrial peer Deutsche Industrie REIT-AG (DIR) is aligned with the company's asset portfolio and its strategy to expand into strong European economies. In our view, the integration of the €789 billion portfolio (gross asset value as of June 30, 2021) should allow CTP to enter into Germany and expand its presence in the European real estate logistics market The DIR portfolio consists of 89 logistic properties across Germany with an annual rental income of currently €59 million. We understand that the DIR portfolio's operational performance is weaker than CTP's current portfolio, with occupancy rates at only 88% as of
