Accolade Group gets loan of CZK 1.2 billion from UniCredit Bank
Accolade, a Czech group operating in the area of preparing industrial parks and investing in the construction of buildings for lease to companies in the light industry and logistics, has obtained loan facilities of EUR 44.1 million (CZK 1.2 billion) from UniCredit Bank. The loans will enable the Group to finance the construction of four industrial buildings for lease in Cheb and Hořovice. The total area of the buildings is to be 112,500 square metres, which would cover around 12 football fields. Accolade Panattoni Europe is the developer of the Accolade property.
“We’ve obtained four loan facilities from UniCredit Bank, totalling EUR 44.1 million. We’ll use it to finance four bespoke buildings in Cheb and Hořovice – those in Cheb, for example, will be built for BWI or DHL,” explains Milan Kratina, CEO of the Accolade Group. “We have decided to take up loans to finance the construction of the buildings because the conditions in the lending market are favourable at present. We were able to reach agreement with UniCredit Bank soon because, among other reasons, the bank had good knowledge of our business.”
“The Accolade Group is able to bring high-quality projects to the market on a long-term basis. Working together, we can jointly contribute to business development in the Karlovy Vary Region and in Central Bohemia,” says Tomáš Procházka, Property Financing Manager in UniCredit Bank.
The Accolade Group has so far built eight large industrial projects in the Czech Republic. Its buildings are currently leased by companies such as the KION Group, making forklift trucks at Ostrov near Stříbro, lock system manufacturer Alpha Corporation (previously Assa Abloy) with operations at Týniště nad Orlicí, or BWI and DHL, located in Cheb, as referred to above. The Group has recently also entered the Polish market.
Accolade Industrial Property Fund
The Accolade Group has recently established an industrial property fund. More than fifty people, including business owners, top managers, consulting firm partners, lawyers, family offices or pension funds, are successfully investing through this Fund at present. The Accolade Industrial Property Fund’s assets include, or will soon include, the buildings of Alpha Corporation, Ideal Automotive, Leoni, KION Group, DHL and BWI.
UniCredit Bank Czech Republic and Slovakia, a.s. belongs among the major financial institutions in the Czech Republic and Slovakia. It provides a wide range of high-quality products and services to retail and private clients, including small and medium-size enterprises as well as large corporations. It is one of the strongest banks in the market for project, structured and syndicated financing. It also holds a very strong position in acquisition financing and is number one in commercial property financing.