Hypo Real Estate Bank finances CIT Group's purchase of office building in Krakow, Poland (PL/DE/UK)

Hypo Real Estate Bank International AG, a member of Hypo Real Estate Group, has announced that it has provided CIT Group with a €45-million senior investment and development loan for the acquisition of the Centrum Biurowe Euromarket office building in Krakow, Poland. The transaction completed on 27 March 2007.

Centrum Biurowe Euromarket is a 3-story office building of 13,000 m², let to tenants including BP Polska and Fortis Bank Polska, with retail accommodation at ground floor level together with open and also underground car parking spaces and architectural features include a fully glazed frontage.

The site provides potential expansion possibilities to complement the existing concrete and glazed structure. The building is located at Ofiar Katynia roundabout – the intersection of the east / west and north / south roads with good access to the city centre, airport and the A4 Motorway.

Commenting, Harin Thaker, CEO Europe of Hypo Real Estate Bank International AG, said: "We are pleased to have provided CIT Group with the financing for this, their first transaction in Poland. It joins the growing list of prestige real estate transactions that we have executed in the region and we look forward to developing this important relationship further in Central Europe."

Commenting, Martin Roberts, Managing Director of CIT Group Plc, stated: "Hypo Real Estate Bank International has an in-depth knowledge and strong presence in Central Europe and have been a very good partner for CIT in making our first acquisition in the region."

Source: Hypo Real Estate

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