August 19, 2014

BZ WBK will provide almost €25 million to HB Reavis

BZ WBK will provide almost €25 million to HB Reavis

HB Reavis signed a loan contract with Bank Zachodni WBK for €24.975 million to refinance building B in the Gdański Business Center. The complex is located at the junction of Andersa and Inflancka streets in Warsaw, just metres away from the Dworzec Gdański underground station, which makes it one of the most conveniently located office buildings in Warsaw.

Gdański Business Center will ultimately consist of 4 buildings, with two of them (A and B) commissioned for use in the first half of 2014. The second stage of the investment, i.e. construction of the remaining two office buildings, commenced in July this year, and completion is planned for the first quarter of 2016.

“The financing proves that the office market segment has won growing trust among financial institutions. It also confirms the business potential of Gdański Business Center, an investment that demonstrates our increasing involvement on the Polish market. With this contract, the bank gives evidence to both the high quality of our buildings and our high credibility as a business partner,” said Stanislav Frnka, Country CEO at HB Reavis.

“We believe not only in the potential of the investment but also in the immense market experience of HB Reavis. Our financial involvement in the project also demonstrates our high assessment of projects with location as convenient as Gdański Business Center,” said Brendan Long, Head of Corporate Property Finance Department at Bank Zachodni WBK S.A.

The two Gdański Business Center buildings that are already open to the public jointly offer 46,000 sqm of modern office space. The architectural idea behind the complex is unique, based on the contrast between the dominating 16-storey building A of unusual shape and the more classic design of the 8-storey building B, clad with carefully selected sandstone. Application of state-of-the-art technological and ecological solutions is confirmed
by a BREEAM certificate with "Very good" rating and a "Green energy" certificate. The green courtyard available to all residents of Warsaw is an appreciated element of the complex. Numerous cafés and restaurants as well as street furniture will make the yard a friendly urban space, vibrant even after hours. KPMG, SNC Lavalin, Provident, and Coloplast are among the first companies to lease office space at Gdański Business Center.

In May 2014, HB Reavis secured a loan facility of €46.8 million from BZ WBK and BNP Paribas to finance the development project Gdański Business Center, Building A in Warsaw.

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