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DLA Piper Advises Allianz and ING on Syndicated Loan for CTP Industrial Property Portfolio in Czech Republic

DLA Piper Advises Allianz and ING on Syndicated Loan for CTP Industrial Property Portfolio in Czech Republic

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DLA Piper has advised Allianz and ING on a EUR 160 million syndicated loan for the financing of a portfolio of industrial properties owned by CTP, a commercial real estate developer and manager in the Czech Republic.

The loan serves both to refinance existing loans from a group of CEE banks and to finance new projects which have been completed in 2017. The refinancing with Allianz and ING is part of CTP's strategy to extend its network of financing partners, including seeking partners outside the CEE region.

The DLA Piper team advising the lenders on the deal was led by Prague-based Real Estate Partner Jakub Adam, who commented: "In any transaction of this volume, you are often confronted with many challenging legal and practical issues. We are delighted that thanks to the excellent cooperation with CTP, we could navigate our clients safely through all of the various challenges and be of assistance to ING, and particularly to Allianz in its first engagement of such significance in the Czech Republic." Adam was supported by DLA Piper Senior Associates Zuzana Slovakova and Marek Stradal. German law aspects of the transaction were coordinated by Finance & Projects Partners Torsten Pokropp and Frank Schwem, both based in Frankfurt.

Zdenek Raus, Financial Manager at CTP, said: "We are very pleased with today's closing between CTP, Allianz and ING. This new credit confirms CTP's efforts to expand our portfolio of financial partners to Western European institutions."

"This is our first financing of logistics real estate in the Czech Republic," said Roland Fuchs, Head of European Commercial Real Estate Finance of Allianz Real Estate. "With this transaction we both expanded our footprint in CEE and increased the logistic share in our European portfolio, not only by indirect investments in logistics funds but also by debt transactions."

Arie Hubers, Managing Director of ING Real Estate Finance, added: "We are very happy to be able to support the growth strategy of our longstanding client CTP through this transaction and to enhance our business relationship with Allianz in a concerted effort. The transaction shows our commitment to our clients as well as the CEE region."

Czech Republic Knowledge Partner

PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. They also have experience working for leading international and domestic law firms in a number of jurisdictions. We speak your language, too. Our legal team is fluent in more than 15 languages, including all the key languages of the region.

PRK Partners has one of the most experienced legal teams on the market. We are consistently rated as one of the leading law firms in the region. We have received many significant honours and awards for our work. We represent the interests of international clients operating in the Czech Republic in an efficient way, combining local knowledge with an understanding of their global requirements in a business-friendly approach. We are one of the largest law firms in the Czech Republic and Slovakia. Our specialised teams of lawyers and tax advisors advise major global corporations as well as local companies. We provide comprehensive legal advice drawing on our profound knowledge of local law and markets.

Our legal advice delivers tangible results – as proven by our strong track record. We are the only Czech member firm of Lex Mundi, the world's leading network of independent law firms. As one of the leading law firms in the region, we have received many national and international awards, in some cases several years in a row. Honours include the Chambers Europe Award for Excellence, The Lawyer and Czech and Slovak Law Firm of the Year. Thanks to our close cooperation with leading international law firms and strong local players, we can serve clients in multiple jurisdictions around the globe. Our strong network means that we can meet your needs, wherever you do business.

PRK Partners has been repeatedly voted among the most socially responsible firms in the category of small and mid-sized firms and was awarded the bronze certificate at the annual TOP Responsible Firm of the Year Awards.

Our work is not only “business”: we have participated on a longstanding basis in a wide variety of pro bono projects and supported our partners from the non-profit sector (Kaplicky Centre Endowment Fund, Tereza Maxová Foundation, Czech Donors Forum, etc.).

Firm's website: www.prkpartners.com

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