Pbb lends €132m to Czech business park developer

Czech developer CTP has agreed a €132 mln financing package for its CTPark Bor business park close to the German border.

German lender pbb Deutsche Pfandbriefbank is providing the financing for the next seven years, which will cover the existing portfolio and allow CTP to extend the park in future.

The agreement is the first collaboration between CTP and its new financial partner pbb, which specialises in commercial real estate finance and public investment finance.

Radek Zeman, CFO of CTP, said: ‘We appreciated the constructive and open-minded approach of pbb in leveraging the current favourable financing conditions.’

CTPark Bor is located on the D5 (E50) motorway near Tachov, 15km from the German border.

In a separate agreement, CTP has secured €30 mln financing for an office campus building in CTPark Brno, on the D1 motorway between Prague and Ostrava.

The funding has been arranged with long-term financial partner Société Générale & KB Group.

Iveta Ocaskova, executive director of corporate banking with KB, said: ‘We have agreed on financing CTPark Brno, which is an attractive asset and thus great opportunity to develop further our business relationship.’

Real estate developer and manager CTP specialises in high-tech business parks and owns the CTPark Network, with more than 2.5 million m2 of A-class properties in over 40 locations.