Hypo Real Estate Bank International announces that it has provided €100 million of financing to Dawnay, Day Carpathian PLC for the acquisition of the Promenada Shopping and Business Centre in Warsaw, Poland, together with a further committed facility for the projected extension and development of the center. The transaction closed on 31st May 2006.
The property is located within the Praga Poludnia district of Warsaw on the eastern side of the River Vistula. It comprises a shopping center with approximately 38,500 m² rentable area, and a self-contained office building with approximately 11,500 m² rentable area. A further extension of both retail and office, with approximately 7,300 m² rentable area is planned for 2007/2008.
Commenting, Harin Thaker, CEO - Europe, said: "This deal continues Hypo Real Estate Bank Internationals successful relationship with Dawnay, Day Carpathian PLC, which I hope to continue into the future."
Source: Hypo Real Estate