Imagine office complex to be refinanced

Avestus Real Estate has signed a loan agreement to refinance the Imagine office complex in Łódź. The loan for a total of €23.9 million was provided by mBank S.A.

The Imagine complex, located at the junction of Piłsudskiego and Śmigłego-Rydza avenues in Łódź, was delivered in 2019. Imagine is a state-of-the-art class A office building consisting of three facilities. Two of them are six-storey buildings and offer a total of 17,200 sqm of commercial space (14,800 sqm of office space and 2,400 sqm of retail and service space). The third one houses an aboveground garage offering 356 parking spaces, 49 double bicycle racks and an electric vehicle charging station.

Among the tenants of the complex are EY, a global leader in audit services, and Asseco Poland, the largest supplier of modern IT solutions in Central and Eastern Europe. Bluerank, WWT (World Wide Technology), Well Fitness, Philips, GE and LUX MED have also decided to lease space at Imagine. The tenant roster also includes Kids & Co., a bilingual kindergarten and nursery, a Żabka store, and the café and bakery Z Pieca Rodem. Moreover, Imagine features a modern conference and coworking centre, managed by Avestus Real Estate.

“We are very pleased to have secured the refinancing of our flagship office project in Łódź,” said Mariusz Frąckiewicz, Country Manager at Avestus Real Estate in Poland. “The loan granted by mBank S.A., a leading capital market institution, demonstrates confidence in our company, but also the quality and business potential of the Imagine complex and the entire Łódź office real estate market.”

The law firm KLBF Kycia Legal advised mBank S.A. on the refinancing of the Imagine office complex in Łódź. The borrower was represented by Taylor Wessing.