CTP secures €75m financing with ING for Czech portfolio

Netherlands-based commercial property developer CTP has obtained a €75 mln financing of part of CTP’s 2.8 million m2 standing portfolio.

The portfolio is spread across the Czech cities of Ostrava, Novy Jicin, Prague, Humpolec, Brno, Pohorelice and Jihlava. The loan runs to 2021.

Radek Zeman, CFO of CTP said: 'ING has been a partner of CTP since 2008. We first started cooperating together during a difficult time for the commercial property industry, a strong signal that ING believes in the long-term viability of the CTP business model. With this new facility, we will be able to further strengthen our portfolio and profitability for the foreseeable future.'

Jan-Evert Post, member of the global management team for ING Bank Real Estate Finance, said: 'CTP has been successfully building its market position in the Czech Republic and beyond in Central and Eastern Europe, an important region for ING, for some 20 years now.'

CTP’s industrial portfolio is centred on its core business - The CTPark Network - the largest integrated network of premium business parks in central Europe. With over 60 locations and sufficient land bank available, the CTPark Network enables clients to cover the whole region.