HB Reavis has secured a loan facility of €46.8 million from Bank Zachodni WBK and BNP Paribas Bank Polska to finance the development project Gdański Business Center (Building A) in Warsaw.
“This is our second successful closing of loan financing in the last few months. It testifies to the quality of our projects as well as the credibility and stability of HB Reavis,” said Stanislav Frnka, CEO of HB Reavis Poland. “We are pleased to welcome Bank Zachodni WBK and BNP Paribas Bank Polska as our new financing partners that trust our investment plans on the Polish market,” he added.
The club of lenders formed by Bank Zachodni WBK and BNP Paribas Bank Polska granted the financing. “We decided to work with HB Reavis because we appreciate the rapid growth of its business and we hope that in the future we will be able to offer our support to HB Reavis with regard to other investments in Poland,” said Brendan Long, Director of the Real Estate Financing Department at Bank Zachodni WBK.
“Gdański Business Center is in our opinion one of the most interesting projects in Warsaw at the moment. Our decision to finance it was motivated by the quality and professionalism of the design, the unique architecture, and the excellent location, which are bound to make it a success,” said Marek Kowalski, Director of the Real Estate Financing Department at BNP Paribas Bank Polska.
Gdański Business Center is an office complex located at the junction of Inflancka and Andersa streets in Warsaw. It consists of two separate buildings, the 16-storey building A and the 8-storey building B, with 30,000 sqm and 15,600 sqm of top quality office space respectively. In Building B, the first tenant – SNC Lavalin – has already moved in and the next one, Coloplast, will follow shortly. Building A is scheduled for completion in June 2014 and is currently being leased-up with a signed list of tenants already including names such as KPMG and Provident.
At present, HB Reavis is moving ahead on another project: Postępu 14 office building with an area of 34,445 sqm, scheduled for completion in mid-2015. In autumn 2014, construction work will also commence on the 2nd phase of the Gdański Business Center project.