February 24, 2014

HB Reavis secures financing for Konstruktorska Business Center in Warsaw

HB Reavis secures financing for  Konstruktorska Business Center in Warsaw

HB Reavis Group has obtained financing of €61.55 million for its first completed office project in Warsaw under a loan agreement with Bank Pekao SA.

HB Reavis Group entered into a loan agreement with one of the most active financial institutions in the Polish lending market, Bank Pekao SA a member of the UniCredit Group, and immediately initiated a payment of funds.

“Following the first issue of bonds, this is another important success we have achieved in the financial area. We appreciate the fact that we have entered into an agreement with a UniCredit Group partner,” said Jiří Hrbáček, CFO HB Reavis Group.

Bank Pekao SA finances the Konstruktorska Business Center project as a sole lender. The importance of the transaction is enhanced by its being the first ever agreement, closed between the HB Reavis Group and UniCredit Group outside the Czech Republic and Slovakia.

“We are happy that HB Reavis Group, one of the most dynamically growing developer groups in our region, has chosen Bank Pekao as the financial partner in their first project in Poland. Having entered into this agreement, we believe that we will continue our co-operation in the future, assisting HB Reavis it their business development in Poland,” Monika Mielecka, director in Structured Finance and Real Estate Department in Bank Pekao SA, commented.

Konstruktorska Business Center is a first quality A-Class project situated in the Mokotów business district. This sustainable building with BREEAM certification has over 48,000 sqm of GLA and provides the highest floor plate in Poland with 7,380 sqm per floor. Konstruktorska Business Center has already attracted prominent tenants, such as Procter&Gamble, Grupa Żywiec, IMS Health, Otis, Carrier, Comperia.pl and others.

HB Reavis is soon to complete the first phase of its another office project, the Gdanski Business Center in the central part of Warsaw. KPMG, one of the world’s biggest audit and advisory companies, will be one of the key tenants of the Gdański Business Center, leasing 10,000 sqm. HB Reavis has recently launched another new project, Postepu 14, on the corner of Postępu and Marynarska streets. HB Reavis’ third project in Warsaw will offer a combination of an excellent location on Marynarska Street, just next to Galeria Mokotów and a unique architectural design.

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