Garbe Industrial Real Estate announced a strategic collaboration with Raiffeisenbank on their 49-hectare site at GarbePark Ceske Budejovice. The first building has been handed over to the client Taconova and is only the start of the up to 80,000 sqm development potential in the first phase, with over 150,000 sqm to follow. The strategic collaboration includes €20 million loan for Garbe development in Ceske Budejovice.
Tomas Gurtler, Executive Director in Raiffeisenbank CR said: “After our more than €19 million loan for development in Chomutov, we are providing another €20 million loan for Garbe development in Ceske Budejovice. Our long-term strategy for the real estate market in the Czech Republic is based on long-term cooperation with strong and experienced developers in each market segment. Therefore, we are proud to be Garbe's strategic partner supporting their expansion in the Czech and Slovak markets. Our financing approach is always based on cash flow consideration in each project and Garbe's ability to achieve extraordinary lease progress in their projects makes our cooperation enjoyable for both partners.”
A financing bank’s sustainability is a top priority. The Ceske Budejovice Park continues the path the developer started with Garbe Green Park Piestany, adding the first installations of green roofs and green facades. Garbe would like to inspire other developers to do the same.
