Hypo Real Estate Bank International AG has provided 28 million of senior debt to Redgroup, Czech Republic, for the refinancing of the Nagano Office and Technology Park, Prague. The transaction completed on 30th November 2006.
Nagano comprises four office buildings and a data centre. The buildings are all fully let to Czech and international companies, predominantly in the telecommunication sector, including Cesky Telecom, GTS Novera and Eurotel.
Set within a secure park environment, the buildings benefit from good telecommunications links in the Prague 3 area, which is also home to Cesky Telecom's headquarters. Established in 1992 by an Irish developer, Red Group is a diversified real estate company with an in-depth knowledge of the Czech real estate market.
Source: Hypo Real Estate Bank