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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

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

HAVEL & PARTNERS, attorneys-at-law, with offices in Prague, Brno, Bratislava, Pilsen, Olomouc, and Ostrava, has a team of 220 lawyers, tax advisors and 500 employees in total, is the largest independent law firm in Central Europe.

Our clients include large international companies, leading Czech and Slovak firms, including strategic state-owned companies and public sector authorities, as well as medium-size businesses, individual entrepreneurs, and investors. We advise approximately 100 of the Fortune 500 companies, and almost 50 of the Czech Top 100 companies. HAVEL & PARTNERS currently provides its services to a total of 2,000 clients. We have the most comprehensive international support available to both Czech and Slovak law firms. We provide legal and tax advice in 12 world languages in more than 90 countries around the globe. Up to 70 % of the transactions we deal with involve an international aspect.

HAVEL & PARTNERS was named the best law firm operating in the Czech Republic by the prestigious British rating agencies Chambers and Partners (2020) and Who’s Who Legal (2018, 2019). It is also the most successful law firm, providing the most comprehensive legal services in the Czech Republic and Slovakia, based on the total number of all nominations and awards in all years of the Law Firm of the Year awards. The firm became the absolute winner of this competition four times in the last six years, receiving the main award Domestic Law Firm of the Year in the Czech Republic (2015, 2017, 2018, 2020) and ranking as one of the most recommended law firms in all categories of law. Our company is also a three-time winner of the Law Firm of the Year award for Best Client Services (2015, 2016, 2019). In the field of M&A, HAVEL & PARTNERS is the best law firm in the Czech Republic based on the annual International Advisory Experts awards (2018, 2019). In Slovakia, it also won the prestigious global M&A Today Awards (2013–2018) for Mergers & Acquisitions six times in a row, and repeatedly won first place in the ranking by Lawyer International Legal 100 (2017, 2018). Prestigious international rating agencies EMIS DealWatch and Mergermarket have ranked HAVEL & PARTNERS among the leading law firms by the number of transactions completed in the entire CEE region since 2009. Based on annual awards of the Acquisition International magazine, HAVEL & PARTNERS has become the Law Firm of the Year 2019 in the M&A category in the CEE region.

Firm's website: https://www.havelpartners.cz/en/

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