P3 gets loan to expand Prague park

UniCredit Bank has granted PointPark Properties (P3) financing for the expansion of PointPark Prague D1 logistics park.

The finance facility will be used to fund the construction of a 20,000 m2 warehousing and distribution facility for international logistics company Yusen Logistics and an additional 20,000 m2 Build-To-Suit (BTS) opportunity at the same site.

A P3 spokesperson said the loan size is around €15 mln.

Construction of the new facility started in January 2013 and is due to be completed in the summer. The building, which has been pre-leased to Yusen Logistics, will serve as an automotive cross-dock and warehouse for retail and other industries.

'We are very pleased with UniCredit Bank’s continuous support for P3’s portfolio in the Czech Republic over the past seven years,' said Peter Bec?ár, managing director for P3 in Czech Republic and Slovakia.

PointPark Prague D1 is located 16 km from Prague, and comprises three warehouse and distribution buildings.