Record-breaking Loan for The Warsaw HUB

The Warsaw HUB - visualization
Ghelamco has received financing for the construction of The Warsaw Hub. The loan was granted by the consortium comprised of five banks.

Ghelamco GP 11 Sp. z o.o. The Hub S.K.A., that is a special purpose company established to implement the project of The Warsaw HUB, has just received a record-breaking loan. The construction will be financed by the consortium comprised of five banks. The agent is Bank Zachodni WBK, the collateral agent is PKO Bank Polski and Bank Pekao SA is responsible for service of bills. The members of the consortium are also Raiffeisen Bank Polska and Bank BGŻ BNP Paribas.

The amount of the loan will total 221 million euro. Additionally, the banks will grant the loan at the amount of 45 million zlotys for funding the VAT tax. The financing is a construction loan with the option of conversion for 5-year long-term loan.

We are pleased that Ghelamco won trust among the leading banks in Poland for the umpteenth time. Such a great amount of bank financing for the construction of The Warsaw HUB confirms both developer's stability and attractiveness of this project – says Jarosław Jukiel, Financial Director and Member of the Board of Ghelamco Group in Poland.

Baker McKenzie legal office was an advisor during the process of entering a loan contract whereas White & Case was an advisor on the credit recipient’s side.

The Warsaw HUB is being erected at the Warsaw’s Wola district at the crossroads of Towarowa and Prosta Streets. The complex will comprise of three buildings: 86-meter-high hotel building and two 130-meter-high office towers. All buildings will be connected with a 5-tier base. The complex will offer office space, conference center, hotels, service space and fitness center on 113 000 sq. m. There will be also MeetDistrict, that is a co-working space functioning in the Belgian investments of Ghelamco. What is more, a cooperation center for start-ups and corporations – The Heart Warsaw – will be also launched in The Warsaw HUB. The completion is envisaged for the beginning of 2020.

The Warsaw HUB already arouses incredibly high interest among tenants. The financing for the construction provides tenants with additional guarantee of stability. We will soon be able to announce the first tenants who have chosen The Warsaw HUB – says Jarosław Zagórski, Commercial and Development Director, Member of the Board of Ghelamco in Poland.


Tags: Ghelamco
Be the first to comment