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Helaba, pbb Deutsche Pfandbriefbank and CTP Invest agree on 177 million Loan Facility

03

05

2017

CTP Refinances 390,000 m2 at CTPark Bor

3 May 2017

  • €177 million facility provided to refinance 393,000 m2 industrial facilities at CTPark Bor
  • Helaba acts as agent in 50/50 club deal

Munich/Frankfurt/London: 

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% 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 totaling 393,000 m² 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 m2 to reach a total built up area of approximately 600,000 m2. 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) continues., and we are confident that they will also support the future development of one of our most important locations in the CTP portfolio.”

Michael Kroeger, Head of International Real Estate Finance 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 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.”