CTPark Bucharest West, owned by the Czech company CTP, the largest business park operator in Central Europe, received a joint loan from BCR and EBRD, in order to expand its activity.
It’ s about a credit facility of EUR 75.8 million, where the BCR is providing EUR 39.1 million and EBRD – EUR 36.7 million, according to a press release. BCR acted as mandated lead arranger, documentation, facility and security agent.
“We aim to be a strategic park for the Romanian economy through the support we offer for significant investments, both foreign and local. This loan also represents the first cooperation between CTP and EBRD, alongside our long term financial partner, BCR (at local level) and Erste Bank (at group level). Moreover, we are confident that this will only be the beginning of a fruitful collaboration between CTP and EBRD!”, Ana Dumitrache, Country Head of CTP Romania said.
The term loan facility was granted for the expansion of the logistics park to add two “green” warehouses of over 72,000 square meters and for refinancing of an existing loan for CTPark Bucharest West.
“We welcome CTP’s drive for green certification, which is not yet standard in the Romanian logistics market. Green leases are also a new feature in the logistics sector in Romania, which will not only benefit the cooperation with tenants but will strengthen CTP’s competitiveness in the market”, stated Matteo Patrone, EBRD Director, Regional Head for Romania and Bulgaria.
“We believe in CTP’s strategic call to develop high-tech business parks for leading international and domestic companies making strategic investments in central Europe and Romania. In particular we believe that we can support Romania’s competitive edge in the region by financing strategic projects in logistics infrastructure,” Sergiu Manea, CEO of BCR also added.
With a planned leasable area of 600,000 square meters, CTPark Bucharest West is designed to become the largest logistics park in Romania, reaching now over 244,000 square meters of leasable area upon finalization of the two warehouses which are under construction.
The two buildings will help CTP meet the increasing demand for warehouse space from existing clients as well as newcomers to the Romanian markets. The warehouses are expected to be certified under an internationally recognised scheme such as Leadership in Energy and Environmental Design (LEED) or BRE Environmental Assessment Method (BREEAM).
CTP is the owner of the CTPark Network, the largest integrated system of premium business parks in Central and Eastern Europe, with over 3.9 million sqm of A-Class properties in more than 60 strategic locations. In Romania, CTP is the leading warehouse developer and manager, with a GLA of 615.000 sqm of Class A warehouses spread in 8 cities: Arad, Bucuresti, Cluj-Napoca, Deva, Pitesti, Sibiu, Timisoara and Turda.