GTC secures €200m loan to refinance Galeria Północna in Warsaw

GTC secures €200m loan to refinance Galeria Północna in Warsaw

Published at: 2017-12-07 10:38 | Author: CIJEurope.com
GTC secured an investment loan facility of up to €200m from Bank Pekao S.A. for its flagship retail project in Poland, Galeria Północna. Under the original agreement, the bank granted the developer a construction loan facility of up to €116m. Galeria Północna was completed on budget and attracted nearly 2 million visitors in its first two months. The project was completed within 25 months after GTC obtained the construction permit. Refinancing the Warsaw mall will provide GTC with substantial cash to accelerate further growth with no need to raise new equity.

Similar Stories:

E-Beko.cz leases showroom in Business Park Prague Zličín
CBRE has assisted in hammering out an agreement for the online home appliances retailer B  »
New shopping zone rising in Čestlice
For those who thought that the era of major shopping center development was over, plans by  »
Auchan buys Ok supermarket network
French retail group Auchan, one of the largest players in Romania, took over the Ok superm  »
Neinver, TH Real Estate buy Warsaw outlet mall
Neptune, a joint venture between Neinver and TH Real Estate, acting on behalf of TIAA, has  »
One of Romania’s most consistently successful developers, AFI Europe, has big plans for   »
One of Romania’s most consistently successful developers, AFI Europe, has big plans for   »
One of Romania’s most consistently successful developers, AFI Europe, has big plans for   »
Hypermarket are proving to be quite the asset class for Real Estate Investment Companies (   »