Caerus IM has secured a medium-term acquisition and refinancing debt facility from Germany’s pbb Deutsche Pfandbriefbank for its Futurama business park located in Prague 8, Czech Republic.
Caerus made the acquisition on behalf and together with a private separate account client. The amount of the facility is undisclosed.
The first two facilities were used to sequentially acquire Phase I and Phase III of the property in two separate transactions, namely from Invesco Real Estate (IRE) and Erste Group Immorent (EGI).
Phase I was completed in 2009 and constitutes three modern class A, multi-tenanted office buildings with combined office and retail net lettable area of 19,300 m2. Phase II was completed in 2012 and constitutes two modern class A multi-let buildings of 16,500 m2, while Phase III is a brand-new office building completed in 2017 with 9,500 m2 of office area, representing the final phase of the Futurama Business Park.
Major tenants include BASF, Panalpina, Roche pharmaceuticals and Deutsche Börse/Clearstream.
Peter Koritschan, managing director of Caerus IM said: 'Working with pbb on this complicated financing was the result of great work on both sides with our two internal teams and external legal counsels putting in a lot of hard work to structure around our requirements, resulting in what was a phased implementation of three separate facilities ultimately combined into one umbrella facility.'
