CANNES, France, March 10, 2015 (GLOBE NEWSWIRE) -- On 10th March 2015, CTP and new financial partner pbb Deutsche Pfandbriefbank executed a EUR 132 Million financing for the premium property, CTPark Bor. The deal includes a portfolio of existing buildings, as well as a line of financing for extension of the park in the future.
"CTP is delighted to have reached an agreement with a strong and well-positioned financial partner such as pbb Deutsche Pfandbriefbank. The deal covers 7 years' financing for CTPark Bor, as well as a line of financing for extension of the park in the near future. We appreciated the constructive and open-minded approach of pbb in leveraging the current favourable financing conditions," stated Radek Zeman, CTP CFO.
Charles Balch, Head of Real Estate Finance International, UK & CEE at pbb, added: "pbb is very pleased to start a lending relationship with CTP, the major player on the Czech logistics and industrial market. The logistics market in the Czech Republic remains strong."
CTPark Bor is strategically located on the E50/D5 motorway 15km from the Czech/German border. The park is situated in a low-cost area with a high-density of skilled labour within a 50km radius. The park offers large building sizes with excellent expansion options.
Notes for editors
CTP is a full-service commercial real estate developer and manager based in the Czech Republic, specializing in the delivery and management of custom-built, high-tech business parks for leading international and domestic companies making strategic investments in new or expanded operations in Central Europe. CTP is the owner of the CTPark Network, the largest integrated system of premium business parks in Central Europe, with over 2.5 million m² of A-Class properties in over 40 strategic locations.
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pbb Deutsche Pfandbriefbank (www.pfandbriefbank.com) is a specialist bank for commercial real estate finance and public investment finance. The bank's regional focus is on Germany as well as on the United Kingdom, France, the Nordic countries and selected countries in Central and Eastern Europe. The bank plays an important role in supplying credit to the real estate sector; it supports the public sector with financing for projects and measures designed to enhance public infrastructure.
In real estate finance, pbb focuses on medium-sized to large-scale financings in less volatile property types, including offices, retail properties, apartments and logistics properties. The bank combines its local know-how covering the entire processing chain in the relevant markets, to form a European network which it uses to the benefit of its clients. In this way, pbb is in a position to support regional financing solutions as well as cross-border transactions – one of the few providers to do so. Moreover, pbb benefits from many years of experience in the structuring of financings. Thanks to its network of financing partners with different business profiles, pbb is therefore able to offer larger and complex financing to its clients.