Helaba and pbb Deutsche Pfandbriefbank have provided a €177 million loan to developer and investor CTP for the refinancing of CTPark Bor, one of the Czech Republic’s largest logistic parks.
The two German banks are each providing a 50 percent share of the loan, with Helaba acting as agent. The transaction, which closed in April, has a term of seven years.
The facility will partially refinance nine logistics properties totalling 393,000 square metres of space, with potential for further development at the site. First developed in 2005 and 2006, CTPark Bor is located 15 kilometres from the Czech-German border.
“Both the logistics sector and the Czech market offer multiple business opportunities, both for our clients and for Helaba,” said Michael Kroeger, head of real estate finance international at Helaba.
Charles Balch, head of real estate finance international, UK and CEE at pbb, added that the bank has been financing CTPark Bor for several years. “The Czech logistics market is indeed one of the most interesting sectors in Central and Eastern Europe,” he added.