Helaba and pbb Deutsche Pfandbriefbank, acting as co-arrangers, are providing a €177m facility to developer and investor CTP for the refinancing of CTPark Bor, one of the Czech Republic's largest logistic parks. The loan is being financed in a club deal, with each partner providing 50% of the facility, and Helaba acting as agent. The transaction closed in April 2017 and has a term of seven years.
The facility will partially refinance nine modern logistics properties totaling 393,000 m² of space, with potential for further development at the site. First developed in 2005/2006, CTPark Bor is located 15 km from the Czech-German border and accommodates a number of well-known, long-term occupiers supplying markets in the two countries.
Michael Kroeger, Head of Real Estate Finance International at Helaba, comments: “We are happy to extend our long standing co-operation with CTP, one of the largest and most professional owners and operators of logistics facilities in Central Europe. Both the logistics sector and the Czech market offer multiple business opportunities, both for our clients and for Helaba.”
Charles Balch, Head of Real Estate Finance International, UK & CEE at pbb Deutsche Pfandbriefbank, said: “We have known and worked with CPT for some time, in particular CTPark Bor which we have been financing for several years. It is a great pleasure for us to extend this relationship in a club deal with our partners at Helaba and we are looking forward to working with these partners in the future. The Czech logistics market is indeed one of the most interesting sectors in Central and Eastern Europe.”
