- Balch: Transaction is further example of pbb’s strategy to work with experi-enced private investors
Munich/London/Prague, 16 January 2018 – pbb Deutsche Pfandbriefbank pro-vided an investment facility of €41.4 million to companies owned by a professional private real estate investor and managed by development and investment company Amesbury s.r.o. The funds will be used to refinance the Zlicin and Chrastany business parks near Prague. Thereby pbb extended the maturity of its financing by another five years. The transaction closed in December 2017.
Each business parks offers, in detached buildings, a gross lettable area of around 35.000 sqm, of which around 25,000 sqm are warehouses and 10,000 sqm is office space. Both parks were originally developed by Amesbury, Zlicin Business Centre between 1997 and 2004, Business Park Chrastany between 2007 and 2017.
Charles Balch, Head of International Clients, UK & CEE at pbb Deutsche Pfandbriefbank said: "This transaction underlines our strong interest in the Prague warehouse and office markets. It is also a fine example of our strategy to work with experienced private investors across Europe.”
Amesbury s.r.o. (www.amesbury.cz) started its activities in the Czech Republic in 1997 and has been active in CEE through its partner’s predecessor entities since 1993. It is a mid-sized development and investment company focused on commercial real estate (warehouse, offices), principally medium and small-unit industrial schemes in Prague 5 – Zličín, Chrášťany (Prague-West), Plzeň-Křimice and Plzeň-Vejprnice. Amesbury is also focused on alternative energy projects such as utilityscale photovoltaic and combined heatelectricity co-generation projects.