Munich-based Hypo Real Estate Bank has completed a EUR 28 mln facility for Redgroup to refinance the Nagano Office and Technology Park in Prague. Named to commemorate the success of the Czech ice hockey team at the Nagano Olympics, the Nagano Park comprises four office buildings and a data centre.
Munich-based Hypo Real Estate Bank has completed a EUR 28 mln facility for Redgroup to refinance the Nagano Office and Technology Park in Prague. Named to commemorate the success of the Czech ice hockey team at the Nagano Olympics, the Nagano Park comprises four office buildings and a data centre.
The buildings are fully let to Czech and international companies, mainly active in the telecommunications sector, including Cesky Telecom, GTS Novera and Eurotel. The refinancing transaction was completed at the end of November.
Founded by Irishman Barry Cullen in 1992, Redgroup is a private company that has established itself as a leading developer of commercial property in the Czech Republic. The company's portfolio is valued at approximately EUR 150 mln. Redgroup says it is also moving into regional development with office and hotel projects.
