The ECE group has succeeded in refinancing a significant share of its 25% equity investment in the Arkády Pankrác Prague on a long-term basis. For this aim, Berlin Hyp is providing a total of 20 million in dept capital.
ECE developed the center and has been successfully operating it ever since its opening on 14 November 2008, (then celebrated as ECE's 100th center).
Alexander Otto, CEO of ECE: "This refinancing shows that the banks are fully confident in our projects even during the financial crisis. After having successfully concluded the financing of new construction projects in Germany (Oldenburg, Dortmund), the refinancing of Arkády Pankrác is a special achievement, as it affirms the positive signals from our Eastern European neighboring countries."
Jan, Bettnik, chairman of Berlin Hyp: "We are very pleased to have successfully completed this long-term refinancing together with our client, the ECE group. This business deal shows once again the strong position of Berlin Hyp and Landesbank Berlin as reliable partner on an extraordinary financial market."