TriGranit has secured financing for its largest Polish project, the 250 million (including tenants' investment) Integrated Transport Center in Poznań, Poland.
The new center, a modern and elegant new construction, to be built adjacent to the existing PKP Poznan Glówny railway station, will incorporate a new PKP railway station, PKS bus station, and a shopping center.
The final financing documents were signed with a consortium of banks consisting of Bank Zachodni WBK as the facility agent, Raiffeisen Bank Polska SA, Nordea Bank Polska SA, BRE Bank SA, HYPO NOE for a loan amount of 119,000,000. The groundbreaking ceremony officially initiates the construction of the new shopping center, which will integrate the reconstructed railway station. The planned opening is in the fourth quarter of 2013.
With a GBA of 150,000 m², the Integrated Transport Center will constitute one of the largest retail areas in the city. It will feature many globally renowned retail brands, as well as retailers new to Poland, such as Toys'R'Us.
The investment has been in preparation since 2008. TriGranit was selected by PKP in a tender from six submitted offers. According to the signed investment agreement PKP S.A. brings into the investment a 4 ha plot of land, while TriGranit carries out all development activities pertaining to the necessary permits, agreements with Poznan municipality, leasing, financing and construction.
"Poland has always been our flagship destination for our property development activity. Our investment in Poland has reached around 1 billion and the total completed development area is over 500,000 m². We opened our first shopping center in Katowice seven years ago, followed by the successful Bonarka City Center in Krakow, the Katowice Oak Terraces residential complex in 2009, and the B4B office project first phase in 2011.
"In Poznan we can utilize our experience in transforming train stations into new city centers gained at WestEnd City Center in Budapest and, currently in initial stages, Emonika City Center in Ljubljana. We bring our expertise and our long-term commitment to Poland, which together with PKP S.A will create a new center and meeting point for Poznan citizens," commented Árpád Török, TriGranit CEO.
Source: TriGranit
