German lenders Pbb Deutsche Pfandbriefbank and Helaba have jointly provided a €107.5 mln facility to Caerus Investment Management, acting on behalf of a separate account client, to refinance the Futurama business park located in Prague.
Pbb and Helaba, acting as joint lead arrangers, provided equal shares of the medium-term funding and Pbb also acted as facility and security agent of the transaction.
Futurama Business Park constitutes five modern multi-tenanted office buildings, and was completed in three phases between 2009 and 2017. The combined gross leaseable area is over 47,000 m2, let to blue-chip tenants including Deutsche Börse/Clearstream, BASF and Roche pharmaceuticals.
Christopher Millen, managing director of Caerus IM, said: ‘The decision to refinance this prestigious property was actually taken pre-Covid and so we were very pleased that despite challenging times, both banks remained committed to seeing through this important transaction for both Caerus IM and our client. The size of the facility is testament to the underlying quality of the property, its blue-chip tenants and the diligent way in which we manage each of our assets.’