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HB Reavis receives financing for office projects

Konstruktorska Business Center in Warsaw
HB Reavis received 61.55 million euro of financial support for Konstruktorska Business Center in Warsaw and 36.5 million euro for River Garden II/III in Prague.

As a result of contract of loan with Bank Pekao SA, HB Reavis received 61.55 million euro as financial support. Disbursement of funds occurred with immediate effect. After the issue of bonds, it is yet another important success in the financial sphere. We appreciate the fact that we started co-working with the member of the prestigious UniCtredit Group, commented Jiří Hrbáček, CFO HB Reavis Group.

 

Bank Pekao SA is the sole lender for Konstruktorska Business Center. We are glad that HR Reavis Group, one of the fastest growing developer companies in our region, has chosen Bank Pekao to be their financial partner for the first project in Poland. We believe that we will continue to cooperate in the future, supporting HB Reavis in developing their business in Poland, adds Monika Mielecka, the director of the Commercial Real Estate Financing, Bank Pekao SA.

 

Konstruktorska Business Center is A class office building, located in Mokotów district in Warsaw. The construction works were finished in 2013. The seven-storey office building offers 48 000 sq. m and has BREEM certificate. The tenants of the building include companies such as Procter & Gamble, Grupa Żywiec, Otis, Carrier, Comperia.pl and IMS Health.

 

The funds received within the frames of financing will be transferred by HB Reavis to be used for further development of new investments. Currently, the company finished the construction works on the first stage of its second building - Gdański Business Center - located in the vicinity of Warsaw city centre. KPMG will take up about 10 000 sq. m in the complex. HB Reavis also started construction of office and administration complex Postępu 14.

 

The investor also received funds to finance its second office investment in Prague. Raiffeisenbank a.s. via Tatra banka granted the group credit amounting to 36.5 million euro.

 

We are glad that the quality of finished projects, high standing on the market and long-term cooperation with partners from banking sector allow HB Reavis Group to gain attractive financing for new construction projects. The funds obtained for the project of River Garden II/III are yet another proof of it. Raiffeisen Bank International has been our financial partner for years, and this is why we completed this transaction with real joy, said Jiří Hrbáček.

 

The funds are to be used for construction and management of the project River Garden II/III. The investment is to be completed in the second quarter of 2014. Philips will open its office in the complex.


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