Florentinum project earns banks' trust

Penta's real estate project, the Florentinum, has obtained a loan of EUR 110 million (CZK 2.75 billion), which is one of the biggest financing deals in the real estate sector this year. The loan will be used to finance the construction of Florentinum and its drawdown will commence in early May 2013.

The financing was provided by a consortium of three banks – UniCredit Bank Czech Republic, Komerční Banka and Raiffeisenlandesbank Oberösterreich and coordinated by UniCredit Bank. Total investment into the Florentinum project is approximately EUR 160 million.

"We are delighted with the level of trust in our project. Obtaining this amount of financing at the time of construction is the result of a very positive development in our lease contract drive," said Petr Palička, Penta Investments' Project Director. At the moment, Florentinum's occupancy is just under 50 %, which is approximately 28,000 sq m and the facility should open in the fourth quarter of 2013.

About Florentinum:

  • 49,000 gross square meters of offices on 9 floors – with efficient and flexible layout options
  • 7,500 sq m of retail space offering a comprehensive array of everyday services (supermarket, chemist, pharmacy, restaurants, children centre, cafés, client centres, showrooms)

Project's key benefits:

  • The piazza, a new 3,000 sq m public space
  • The historical Des Fours Palace Gardens will be renewed into another 2,000 sq m of public space
  • Apart from office space, Florentinum will include many other functions, such as a company kindergarten within the building, accommodation facility in the newly opened Motel One hotel nearby and a wide range of additional services
  • The project obtained the LEED Gold pre-certification and is designed by Cigler Marani Architects

About Penta

Penta is a Central European investment group established in 1994. It operates mainly in healthcare, financial services, manufacturing, retail, media and real estate development. Its portfolio companies provide jobs to more than 41,000 people and reported assets of EUR 12 billion in 2021. Penta operates in more than 10 European countries and has offices in Prague, Bratislava and Warsaw.

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