(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.
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