CTP secured a €177m loan from Helaba and pbb Deutsche Pfandbriefbank to refinance CTPark Bor, one of the largest industrial parks in the CE region. The banks financed the loan in a club deal, where they are each providing 50 percent of the facility. Helaba is acting as an agent. The transaction was closed in April with a term of seven years. The loan will be partially used to refinance nine modern logistics properties totaling 393,000 sqm, with a potential to develop an additional 210,000 sqm on the site. CTPark Bor, located 15 km from the Czech-German border, accommodates international clients, such as Bridgestone, Primark and TechData. CTP and pbb Deutsche Pfandbriefbank have been cooperating on this project 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,” said Charles Balch, head of international real estate finance for the UK and CEE at pbb Deutsche Pfandbriefbank.
