News Article Crestyl Czech Republic financing Helaba office pbb Prague
by Property Forum | Investment

Following the previous financing of four phases of the Dock In Office Park in Prague, Deutsche Pfandbriefbank (pbb) and Helaba have jointly underwritten an investment facility, totalling €63 million to refinance “Dock In Five”, the last addition to the Dock project developed by Crestyl Group. pbb and Helaba acted as joint lead arrangers and provided equal portions of the funding; pbb also acts as the facility and security agent for the transaction.

The Dock In Five offers 21,500 sqm of high-quality office and retail space spread over six floors. The property has been completed in May this year and represents the final addition to the Dock scheme where Crestyl created a new vibrant district along the Vltava River anchored by residential apartments and including restaurants, cafés and even a public park with a marina.

The entire project Dock is designed in accordance with ESG principles. All office buildings feature the highest quality standard and LEED® certification as a testimony to being designed in consideration of energy efficiency, environmental protection, and quality of indoor spaces. The commercial element of the scheme consists of five modern class A office buildings built between 2013 and 2022. The combined gross lettable area approaches 80,000 sqm and is let to well-known tenants such as Saint-Gobain, Delivery Hero (Dáme jídlo), BNP Paribas Cardif Pojišt'ovna, ASSA ABLOY, LEGO Trading, Publicis, Henkel and Hornbach.

Helaba and pbb now finance the entire Dock-In scheme with a total loan amount of €190 million.