CTP and pbb Deutsche Pfandbriefbank sign €132 million financing transaction at MIPIM 2015
CTP and new financial partner pbb Deutsche Pfandbriefbank have executed a €132 million financing for CTPark Bor. The deal includes a portfolio of existing buildings, as well as a line of financing for extension of the park in the future.
“CTP is delighted to have reached an agreement with a strong and well-positioned financial partner such as pbb Deutsche Pfandbriefbank. The deal covers 7 years’ financing for CTPark Bor, as well as a line of financing for extension of the park in the near future. We appreciated the constructive and open-minded approach of pbb in leveraging the current favourable financing conditions,” commented Radek Zeman, CTP CFO.
Charles Balch, Head of Real Estate Finance International, UK & CEE at pbb, added: “pbb is very pleased to start a lending relationship with CTP, the major player on the Czech logistics and industrial market. The logistics market in the Czech Republic remains strong.”
CTPark Bor is strategically located on the E50/D5 motorway 15km from the Czech/German border. The park is situated in a low-cost area with a high-density of skilled labour within a 50km radius. The park offers large building sizes with excellent expansion options.