AFI completes €13.4 mln. financing with UniCredit Bank Austria for AFI Business Park Cotroceni (RO)

AFI Europe, a member of AFI Group, announced that it has signed a financing agreement with UniCredit Bank Austria for the development of the first out of five class-A office buildings in AFI Business Park Cotroceni located in Bucharest sector 6, Romania. AFI Business 1 is the first class-A office building within AFI Business Park Cotroceni – Bucharest's newest, modern and most advanced business center. Once completed, the Park will include five class-A office building with a total leasable area of 70,000 m².

Bucharest skyline

The Park will include five class-A office buildings with a total leasable area of 70,000 m².

Commenting, David Hay, CEO AFI Europe Romania, said: "We are impressed with the bank´s responsiveness and their ability to deliver the financing under the current tough market conditions. Securing this financing will allow AFI Europe to complete successfully the first phase of AFI Business Park Cotroceni."

Commenting, Anton Hoeller, Managing Director of International Real Estate Finance UniCredit Bank Austria, added: "This transaction proves one more time that our long lasting cooperation with AFI Group is very fruitful and has a great potential for the future. We consider AFI Europe as a professional and trustworthy partner, with whom making new business is always a pleasure. We believe strongly that the project itself will become successful and that we will have an opportunity to cooperate on the financing for the next phases of AFI Business Park Cotroceni in Bucharest."

Source: AFI

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