German lender Helaba is providing a loan more than €100 mln to finance the acquisition of the Churchill Square office project in Prague. The buyers are the Czech office real estate company Ceskomoravská Nemovitostní (CMN) and the CFH Group, an investment group active in Europe and the US with focus on core investments in major cities in Germany, UK, US, the Netherlands and Poland.
Churchill Square consists of two adjoining office buildings, which were completed in 2019 and 2020 respectively. Comprising a total lettable area of 32,970 m2, Churchill Square is located directly adjacent to Prague's main station to the north-east of the renowned Wenceslas Square in the centre of Prague. Deloitte is among Churchill Square's anchor tenants.
The acquisition is the latest by CMN in the Czech Republic. In 2019, it closed the largest deal of the year with the purchase of the Crystal and BLOX office buildings. In 2020 it bought City West C1 and C2.
Martin Erbe, head of Real Estate Finance Central at Helaba: ‘We are proud to be a reliable financing partner for CMN and CFH, even in these challenging times. That is why we are particularly delighted to have been entrusted with the financing of this superbly-located, prime office complex that has been let to first-class tenants.’
