Henderson Park and EPP have successfully secured a €148.6m loan from Berlin Hyp AG and PKO Bank Polski to refinance a Polish office portfolio.
The three assets, which comprise the Malta Office Park in Poznan, the O3 Business Campus in Krakow and the Symetris Business Park in Lodz, are owned in joint venture by Henderson Park and EPP.
John Fletcher, Senior Principal, at Henderson Park, commented: “This refinancing reiterates the strength of this Polish office portfolio and the additional value created through a comprehensive asset management programme by the EPP team. This new facility allows us to continue executing our business plan on behalf of our investors.”
“The refinancing of the office portfolio, successfully orchestrated by EPP as its asset manager, highlights the quality of the properties and their tenancy. In a challenging market environment, over the past few years we have consistently applied activities to increase the quality of these assets, which has allowed us to maintain the confidence of financial institutions and ensure the portfolio's stability,” said Sylwia Piechnik, Head of Office Leasing and Asset Management at EPP.
The refinanced portfolio comprises over 105,000m2 of modern, BREEAM-certified office space in key cities across Poland. The Grade A buildings feature contemporary architecture, and exceptional workspace quality and are fully powered by renewable energy. Tenants include NFZ, HCLTech, Grant Thornton Frąckowiak, ZF Group and Philips.
Wolf Theiss advised and provided legal services for the lenders, while the borrower was represented by Linklaters.
Image Source - The Hill Group.
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