Tuesday, September 29, 2020
Home News Finance pbb Deutsche Pfandbriefbank provides a €33 million loan to Tristan Capital Partners...

pbb Deutsche Pfandbriefbank provides a €33 million loan to Tristan Capital Partners for an office building in Prague

pbb Deutsche Pfandbriefbank has agreed a €33 million medium-term acquisition and capex facility for a fund managed by Tristan Capital Partners. The facility will be used to acquire and upgrade an office block known as Praha City Center in Prague, Czech Republic. The transaction closed in March 2014.

The fund, Curzon Capital Partners III, has agreed to purchase Praha City Centre from a German fund. The office building is located in downtown Prague, between the streets Klimentská and Petrská in the district of Prague 1, well accessible both by car and public transport. It comprises approx. 18,000 sqm of gross lettable office and ground floor retail area and 295 parking spaces, and is leased to a mix of Czech and International tenants.

Charles Balch, Head of Real Estate Finance International, UK & CEE at pbb Deutsche Pfandbriefbank, said: “Together with Poland, the Czech Republic, and Prague in particular, remains an important investment market within the CEE region. pbb Deutsche Pfandbriefbank is pleased to support Tristan Capital Partners in this acquisition, as Tristan and pbb continue to work together successfully in a number of European markets.”

Most Popular

M7 acquires Katowice office building for new CEE fund

M7 Real Estate has undertaken its first acquisition on behalf of M7 CEREF II, its value-add opportunities fund focused on offices and...

Metropol Group acquires five shopping centres in Poland

Greenberg Traurig advised Metropol Group on the acquisition of a shopping centre portfolio, consisting of five regional convenience stores is located in...

Weerts Group to start new warehouse development near Budapest

The logistics sector of Hungary is booming with foreign investors continuing to be optimistic about the market outlook. The latest evidence of...

Panattoni sells two city logistics parks in Warsaw to LaSalle

Panattoni and Marvipol have sold two city logistics parks in Warsaw to LaSalle Investment Management. The facilities, totalling nearly 25,000 sqm, were...