Bank Aareal completes financing and provides a loan of € 312.5 million to the Ghelamco Group

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(RTTNews) – Aareal Bank AG (AAALF.PK) on Thursday announced the closure of its financing agreement, providing a major loan of € 312.5 million to real estate investor and developer Ghelamco Group.

The bank provides loans as sole agent, organizer and lender to a family-owned real estate group that primarily operates in the office, residential, retail, leisure and logistics markets.

Ghelamco will use the loan to refinance a newly built complex located in the western part of the dynamic business district of Poland’s capital. The project represents modern, high-quality and multi-storey buildings in a multifunctional complex known as the “Warsaw HUB”:

The complex consists of two 130-meter office buildings, together with an 86-meter tower of the hotel, connected by a common podium.

Area 118,000 sq. M includes first-class office and coworking space, a conference center, Crowne Plaza and Holiday Inn Express hotels, retail and service facilities and a fitness club.

Ghelamco was advised by Deloitte Legal. CMS Cameron McKenna advised Aareal Bank on legal issues and Savills on valuation issues.

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.

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