HB Reavis secures €46.8 mln loan for Gdański Business Center (PL)

HB Reavis has secured a loan facility of €46.8 million from Bank Zachodni WBK and BNP Paribas Bank Polska to finance the development project Gdański Business Center (Building A) in Warsaw.
‘This is our second successful loan application in the last few months. It testifies to the quality of our projects as well as the credibility and stability of HB Reavis,’ said Stanislav Frnka, CEO of HB Reavis Poland. ‘We are excited that Bank Zachodni WBK and BNP Paribas Bank Polska joined forced with us as financing partners who have trust in our investment plans on the Polish market,’ he added.
The financing was granted by the consortium of Bank Zachodni WBK and BNP Paribas Bank Polska. ‘We decided to work with HB Reavis because of its rapid growth. We hope that in the future we will have the opportunity to offer our support to HB Reavis with regard to other investments in Poland,’ said Brendan Long, Director of the Real Estate Financing Department at Bank Zachodni WBK.
‘In our opinion, Gdański Business Center is one of the most interesting office space projects in Warsaw at the moment. In the process of deciding to finance it, we assessed very highly the quality and the professionalism of the design, the unique architecture, and the excellent location, which are guaranteed to make it a success,’ said Marek Kowalski, Director of the Real Estate Financing Department at BNP Paribas Bank Polska.
Gdański Business Center is an office centre located at the junction of Inflancka and Andersa streets in Warsaw. It consists of two parts, the 16-storey building A and the 8-storey Building B, with 30 000 m² and 15 600 m² of top quality office space respectively. In Building B, the first tenant – SNC Lavalin – has already moved in. The next tenant, Coloplast, is scheduled to move in shortly. Building A is scheduled for completion in June 2014; office space in Building A has already been leased by e.g. KPMG and Provident.
At present, HB Reavis is moving ahead on another project: Postępu 14 office building with an area of 34 445 m², scheduled for completion in mid-2015. In autumn 2014, work will also being on the 2nd phase of the Gdański Business Center project.
Source: HB Reavis