PointPark Properties (P3) and UniCredit Bank Czech Republic have signed a credit agreement to finance the expansion of PointPark Prague D1 logistics park.
The facility will be used to fund a 20,000 m2 warehousing and distribution facility for international logistics company Yusen Logistics and an additional 20,000 m2 build-to-suit opportunity at the same site.
Construction of the new warehouse facility started in January 2013 and is due to be completed in the summer. The building, which has been prelet to Yusen Logistics, will serve as an automotive cross-dock and warehouse for retail and other industries.
Once the Yusen Logistics facility is completed, only 20,000 m2 will remain available for future development at PointPark Prague D1. Building permits are already in place.
Peter Bec?ár, managing director for P3 in Czech Republic and Slovakia, said: “We are very pleased with UniCredit Bank’s continuous support for P3’s portfolio in the Czech Republic over the past seven years and for the PointPark Prague D1 expansion in particular.
PointPark Prague D1 is located near Strancice, just 16 km from Prague, on the D1 motorway to Brno and Bratislava. Tenants include DB Schenker, Hopi, Auto Kelly and PST CLC. The park currently comprises three warehouse and distribution buildings, together with support services such as public transport connections, a 24-hour park reception and commercial office space.
Petr Plocek, a spokesperson of UniCredit Bank, said: “Our bank supports financing of projects with higher added-value. Participating with P3 on the expansion of PointPark Prague D1 is considered a favourable opportunity not only due to the park’s top location, but also its strong tenant.”
