Aareal Bank has arranged and underwritten the refinancing of two logistics and industrial parks in premium locations in the Czech Republic on behalf of CTP. Aareal Bank acted as Mandated Lead Arranger, Sole Lender as well as Facility and Security Agent. The facility comprises a total commitment of approximately € 403.5 million with a loan term of 10 years.

CTPark Ostrava is currently home to 75 companies with 9,000 people employed there and the site continues to attract new firms looking for suitable sites for production space. The offer of such space in the Moravian-Silesian Region has grown by 70% year-on-year. The site owner, CTP, has now concluded agreements with Brembo, Hyundai Steel and Škoda Vagonka on new operations at the park. More than five hundred new jobs will be created in the region as a result.

CBRE Global Investors in collaboration with general supplier Demaco have handed over the new premises in Nýřany to their client Faurecia represented by the industrial agency of Colliers International Czech Republic. Faurecia Seating Plzeň opened its plant in this location in 2013 and earlier this year, and the automotive supplier agreed on an expansion within the existing location. The new premises will be used for manufacturing automotive seating for BMW, Opel, Volkswagen and other brands. The site can also offer space for another expansion.

The Ostrava City Council has approved the plan to build Panattoni Park Ostrava Airport near Leoš Janáček Ostrava Airport. The project aims to attract both leading domestic and global companies. It promises investments totalling around CZK 4 billion and up to 2,000 new jobs for the whole region. Panattoni, as the developer, will use the large existing industrial zone with high-quality transport infrastructure. The industrial premises with an area of 115,000 sqm will have minimal environmental impact. Construction should begin during 2022.    

City Park Hostivař in Prague 10 has been acquired by a Western European investment company, represented by BNP Paribas Real Estate. The name of the buyer and the purchase price has not been disclosed.

The overall volume of transactions in the commercial property sector in the Czech Republic should reach €1.2 billion this year. This means a 63% decrease compared with last year, which in turn was more successful than average. Considering the complications that the coronavirus pandemic caused to the economy, such a result is quite satisfactory and attests to the lasting investor appetite. In addition, an increase to almost twice this year’s volume can be expected next year. The fact that real estate prices remain stable is also positive.

Cromwell EREIT Management Pte. Ltd., the manager of Cromwell European Real Estate Investment Trust announced that it will be acquiring a portfolio comprising 11 logistics and light industrial properties in the Czech Republic and Slovakia for an aggregate purchase price of €113.2 million, on a net operating income yield of 6.7%. The seller is Arete Invest, acting on behalf of its sub-fund Arete Invest Podfond CEE II

Accolade Industrial Fund has secured an €85 million refinancing loan from Česká spořitelna for its Czech industrial portfolio. At the same time, the Fund responds to growing interest from qualified investors and following its debut in the domestic Czech market, it’s opening a distribution network in neighbouring Slovakia, together with Slovenská sporiteľňa.

Radovan Vítek and Marie Vítek have resigned from CPI Property Group’s Board of Directors and Jonathan Lewis has been co-opted to the Board of Directors. Mr. Lewis is an independent real estate consultant who practised for 40 years as a solicitor, most recently as a partner at international law firm CMS. CPIPG's board now consists of three independent directors (Edward Hughes, Omar Sattar, and Jonathan Lewis) and four members of management (Martin Nemecek, Tomas Salajka, Philippe Magistretti, and Oliver Schlink).

Cushman & Wakefield has entered into a partnership agreement with building technology advisor Future2. The partnership, covering the CEE region, enables Cushman & Wakefield to advance the development of its property management and technical advisory services by adding deep knowledge of digital building systems.