Penta says it has secured one of the largest real estate financing deals in the Czech market this year for its Florentinum project in Prague.
Penta says it has secured one of the largest real estate financing deals in the Czech market this year for its Florentinum project in Prague.
Three banks are providing the Central European investment group with CZK 2.75 bn (€110 mln) to finance the construction of the office and retail scheme.
The lenders are coordinator UniCredit Bank, Komerèní Banka and Raiffeisenlandesbank Oberösterreich.
The project will involve a total investment of €160 mln.
Florentinum's occupancy is just under 50%, which is approximately 28,000 m2 and the facility should open in the fourth quarter of 2013.
The development will provide 49,000 gross m2 of offices on nine floors; 7,500 m2 of retail space; and a new 3,000 m2 public space.
In addition the Des Fours Palace Gardens will be renewed to provide 2,000 m2 of public space.
The project obtained LEED Gold pre-certification and is designed by Cigler Marani Architects.
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