Aareal Bank has provided €312.5m refinancing facility to Ghelamco Group for its latest development project in Warsaw, known as "The Warsaw HUB". The development comprises two 130-meter office buildings, together with an 86-meter hotel tower connected by a common podium. The complex is the most innovative project completed by Ghelamco and combines all functions necessary for the operation of a modern business. The 118,000m² scheme includes top-class office and co-working spaces, a conference centre, the Crowne Plaza and Holiday Inn Express hotels, retail and service premises and a fitness club.
The International WELL Building Institute (IWBI) has officially confirmed that the offices, retail spaces and hotels of The Warsaw HUB complex are among the safest in the world, awarding them with a WELL Health-Safety Rating. The three buildings are BREEAM pre-certified. Once all the required certificates are in place, the loan will be converted into a contract in accordance with Aareal Bank's Green Finance Framework.
Christof Winkelmann, Member of the Management Board of Aareal Bank, stated: "We are very proud to have closed this agreement with Ghelamco, who are not only a leading European real estate investor, but especially an outstanding developer in the Polish market. Ghelamco was at the forefront of European companies that entered the commercial real estate market as early as 1991. As such they have shaped the cityscape of Warsaw with award-winning modern buildings while pioneering the establishment of sustainable standards in the Polish real estate market."
Jarosław Jukiel, Financial Director and Member of the Management Board of the companies within Ghelamco in Poland added: "We are very proud to work with Aareal Bank once again. Obtaining such large bank refinancing for The Warsaw HUB confirms the developer's stability and reflects the project's attractiveness."