Helaba, pbb Deutsche Pfandbriefbank and CTP Invest agree on €177 million loan facility
Helaba and pbb Deutsche Pfandbriefbank, acting as co-arrangers, are providing a €177 million loan facility to developer and investor CTP for the refinancing of CTPark Bor, ranked as the largest industrial park in central Europe. The loan is being financed in a club deal, with each partner providing 50 percent of the facility, and Helaba acting as agent. The transaction was closed in April 2017, with a term of seven years.
The facility will partially refinance nine modern logistics properties totalling 393,000 sqm of space, with potential for further development at the site. CTPark Bor is located 15 km from the Czech-German border and accommodates well-known, long-term occupiers supplying markets in the two countries.
Radek Zeman, CTP CFO said: “We began development at CTPark Bor in 2005/2006, and until now have developed a total rentable area over 390,000 m2. Planned future development will enlarge park by 210,000 sqm to reach a total built up area of approximately 600,000 sqm. The park accommodates a large portfolio of international clients, such as Bridgestone, Primark and TechData, active in both production and logistics and serving their customers in Northern France, Germany and CEE. We are very pleased that our long-term cooperation with these two strong financial partners (Helaba and pbb Deutsche Pfandbriefbank) continues.”
Michael Kroeger, Head of International Real Estate Finance at Helaba, commented: “We are happy to extend our long-standing co-operation with CTP, one of the largest and most professional owners and operators of industrial facilities in Central Europe. The logistics sector and the Czech market offer multiple business opportunities, both for our clients and for Helaba.”
Charles Balch, Head of International Real Estate Finance, UK & CEE at pbb Deutsche Pfandbriefbank, said: “We have known and worked with CTP for some time, in particular with respect to 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.”