October 07, 2019

Helaba, Berlin Hyp and pbb provide €230 million refinancing for Warsaw Spire Tower

Helaba, Berlin Hyp and pbb provide €230 million refinancing for Warsaw Spire Tower

Helaba, Berlin Hyp and pbb Deutsche Pfandbriefbank have jointly underwritten an investment facility totaling €230 million to refinance Warsaw Spire Tower. The asset is owned by IMMOFINANZ, a commercial real estate group whose activities are focused on the retail and office segments of seven core markets in Europe including Austria, Germany, Poland, Czech Republic, Slovakia, Hungary and Romania. The financing transaction closed in September 2019. Helaba, Berlin Hyp and pbb are acting as Joint Lead Arrangers providing equal portions of the funding, with Helaba acting as facility and security agent of the transaction.

The Warsaw Spire complex consists of 3 buildings totaling 115,000 sqm of GLA. The main building, Warsaw Spire Tower, is with its heights of 220-metre and a hyperboloid glass façade one of the iconic building on the Warsaw skyline neighbored by two 55-metre auxiliary buildings. This land mark complex won many awards within the last years including the MIPIM Award 2017 for the best construction project. The unique complex offers the optimum combination of location and quality within the very heart of the City. Implemented in the scheme are new technologies and green solutions which have attracted exceptionally well recognized tenants, committing to long leases on sustainable rents.

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