10.5 million zloty loan for the construction of the Praga Koneser Center

Praga Koneser Center, source: bbidevelopment.pl
Praga Koneser Center, source: bbidevelopment.pl
BBI Development Company obtained a loan of 10.5 million zloty. Funds are intended for the implementation of the Praga Koneser Center

Thanks to the loan agreement signed between the Praga Koneser Center Ltd (CPK) and L & W Development Company Ltd. obtained 10.5 million zloty for the construction of the Warsaw investment BBI. CPK is an entity purposeful, responsible for the implementation of some office-commercial (called. Central Quarter) Praga Koneser Center project. The agreement is in line with previously announced collaboration between BBI and Liebrecht & Wood (L & W) in the framework of this project, for which the L & W will fund the ongoing costs of the project.

The entire amount granted by the lender will be allocated for construction of the Praga Koneser, formed in Warsaw. As we read in the BBI Development press: The loan is remunerated on conditions don’t deviate from market standards and has been secured, according to the findings of the Parties to the highest security amount of 15,019,631.00 zloty, each of the following security features: a registered pledge on future receivables Realty 3 Management company ltd. with development project 5 SK ("PD5") related to the sale of the "Union Square" and registered pledge covering by the company PD5 a total of 15,019,631 shares of NPU Association limited by shares (formerly: "The new Union Square SA ").

Praga Koneser Center is formed in the quarter st. Ząbkowska, Markowska, Bialystok and Nieporęcka in Warsaw Vodka Factory. It will consist of residential, commercial, office and cultural surfaces. In May 2012, the first phase of investment, in which has rebuilt and modernized office buildings Guardhouse and the Directorate. Ultimately, within the complex will rise approx. 22 000 sqm. offices, 28 000 sqm. retail space and 300 apartments. The opening of the commercial part is scheduled for the first quarter of 2017.

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