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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

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

For more than 25 years PRK Partners has been providing top tier, comprehensive legal services in all areas of law – always at the highest professional level. The company’s offices in Prague, Ostrava and Bratislava, as well as its specialised teams of legal practitioners and tax advisors, allow PRK Partners to offer solutions to any kind of legal issues, providing an international point of view and in-depth knowledge of the respective local legal system.

The full-service law firm has worked on many of the region’s largest and most complex transactions. The firm puts emphasis on the highest standards of quality, efficiency and flexibility in its advisory services, which are tailored to the specific requirements of each client. 

Our team is composed of professionals with international education and experience. The firm frequently works on a non-exclusive basis with leading international law firms on large cross-border transactions.

PRK Partners is consistently recognised among the top law firms by leading international and domestic directories and ratings agencies and has been honoured with numerous awards: 

• National Law Firm of the Year 2016 by the Chambers Europe Awards, the most prestigious international law firm competition. This is the fifth award PRK Partners has received since the awards were first given; National Law Firm of the Year 2014, 2013 and 2010 and Law Firm of the Year 2012 for Best Client Service.

• 2018 Best Law Firm of the Year in the category of Banking &Finance and the absolute winner in the main category of the Domestic Law Firm of the Year awards organised by epravo.cz under the auspices of the Czech Bar Association three times since the award's inception (in 2016, 2013 and 2011).

• a finalist of the Central European Law Firm of the Year category in The Lawyer European Awards 2018. 

The firm has a strong commitment to corporate social responsibility and pro bono work.

PRK Partners is the exclusive member firm in the Czech Republic for Lex Mundi, the world’s leading network of independent law firms, with in-depth experience in 100+ countries worldwide. In addition, the firm is a member of Celia Alliance, AFI (Association for Foreign Investment) and CVCA (the Czech Private Equity and Venture Capital Association).

Firm's website: www.prkpartners.com

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