April 13, 2015

Hermes Business Campus attracts €30 million financing

Hermes Business Campus attracts €30 million financing

JLL has successfully secured financing of €30,000,000 for Hermes Business Campus from one of the most dynamic and innovative banks on the local market, on behalf of Atenor Group, the developer of the office project.

Silviana Badea, Head of Capital Markets of JLL in Romania, commented: “In order to better serve our clients with a presence in Romania we have extended our Capital Markets services to include Debt Advisory. We manage on behalf of developers and investors the debt arrangement and due diligence processes and create competitive tension between potential lenders, ensuring best possible terms for our clients in terms of both flexibility and pricing. We have recently successfully secured a new debt financing deal for Bucharest’s real estate market. The purpose of the Debt Advisory service in JLL Romania is to streamlines the timeline for financings and connect the Investors with the Lenders.”

Hermes Business Campus is located in Dimitrie Pompeiu, adjacent to the city’s new Central Business District (“CBD”) and represents an office complex (three buildings) designed to be built in phases, with an area of up to 75,000 sqm of offices. The first phase of the project was completed in Q1 2014 and has been 100 percent leased. Among the major tenants we mention: Idea Bank (RIB), Lavalin, Luxoft, DB Schenker, e-Value, Xerox and the Embassy of the Kingdom of Netherlands. The second phase of the project will be delivered in Q1 2016 and has already secured lease agreements.

Florentina Mitricoaia, Capital Markets Consultant at JLL, who was responsible for successfully concluding this project, commented: “Hermes Business Campus is a premium project with innovative design elements for the Romanian market. The project has met all the bank’s requirements in terms of location, specifications, developers’ reputation and risk. The financing is meant to partially close the shareholder loans and partially cover the second phase of the development. We are delighted we were able to help establish this partnership between Atenor Group and the financing institution and certify thereof the interest and security shown by these participants in the Romanian real estate market.“

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