Munich/Frankfurt/Prague, 06.10.2020 – pbb Deutsche Pfandbriefbank (pbb) and Helaba have jointly underwritten an investment facility, totalling €107.5 million, to refinance Futurama Business Park located in Prague for Caerus Investment Management (Caerus IM) on behalf of a separate account client. pbb and Helaba, acting as Joint Lead Arrangers, provided equal portions of the funding. pbb also acted as facility and security agent of the transaction.
Futurama Business Park constitutes 5 modern class A, multi-tenanted office buildings, and was completed in three phases between 2009 and 2017. The combined gross leaseable area is over 47,000sqm, let to blue-chip tenants including Deutsche Börse/Clearstream, BASF and Roche pharmaceuticals.
Charles Balch, Head of International Clients, UK, CEE & USA at pbb Deutsche Pfandbriefbank said: "Futurama Business Park is a prime office complex in Prague, and Caerus IM is a client well known to pbb. As such we are pleased to support them in the refinancing, together with our colleagues from Helaba.”
Martin Erbe, Head of Real Estate Finance for CEE, Benelux and International Clients Germany at Helaba adds: "We were very happy to support our client Caerus IM with the financing of the well-known Futurama Business Park in one of our strategic key markets. Together with pbb, this refinancing demonstrates how we could respond to Caerus IM’s expectations, even in these difficult times.”
Christopher Millen, Managing Director of Caerus IM said: “The decision to refinance this prestigious property was actually taken pre-COVID and so we were very pleased that despite challenging times, both banks remained committed to seeing through this important transaction for both Caerus IM and our client. The size of the facility is testament to the underlying quality of the property, its blue-chip tenants and the diligent way in which we manage each of our assets.”
pbb Deutsche Pfandbriefbank
Walter Allwicher, +49 89 2880-28787, firstname.lastname@example.org
Nina Lux, +49 89 2880-11496, email@example.com
Mike Peter Schweitzer, +49 69 9132-2877, firstname.lastname@example.org
Marco Pfohl, +49 69 9132-4162, email@example.com
Caerus Investment Managment
Christopher Millen, +420 722 481 953, christopher.millen(at)caerus.im
Peter Koritschan, +420 774 840 079, firstname.lastname@example.org
Note to editors
Helaba is one of the leading banks in the German financial capital of Frankfurt, the Helaba Group employs approximately 6,300 people and has total assets of € 207 bn. Helaba is a full-service bank closely incorporated in the German Sparkasse organisation. It provides a comprehensive range covering the whole of the value chain from finance, design and development to the operation of top end properties. Helaba also offers a host of attractive participation opportunities for institutional investors. Real estate business is not only one of the Bank’s core business areas, but commercial real estate finance is one of its strongest areas and is consistently regarded in national and international financial markets as one of the most successful thanks to its outstanding expertise, an intelligent risk profile and a compelling proposition. Helaba started business in Central Eastern Europe in 2006. The bank finances office, retail and logistics properties in Poland, the Czech Republic and Slovakia for institutional investors.
Caerus Investment Management (www.caerus.im) is a boutique private equity real estate investment firm headquartered in Zurich, Switzerland. The firm has two operational offices located in London, United Kingdom (which is authorised and regulated by the UK Financial Conduct Authority as an Alternative Investment Fund Manager (AIFM)), and a local on-on-the-ground asset management arm covering Central Europe. Caerus IM specialises in structuring commercial real estate investments that are tailored to both institutional and HNW private investor needs, focusing on core and core-plus income producing real estate. AuM currently exceeds EUR 350m.