SPEEDWELL signs financing agreement with Garanti BBVA for Building 2 of THE IVY

Speedwell has signed a top up financing agreement with Garanti BBVA with the purpose to finance the second building of THE IVY project. The total loan amount thus reached EUR 15 million.

Located on Jandarmeriei Street, in the north of Bucharest, close to Baneasa forest, THE IVY is a residential project featuring a total of 800 apartments comprised in 10 buildings with a P + 6 height regime, spread out over 5 hectares of land.

THE IVY was designed to obtain a BREEAM Excellent certification by supporting health and wellbeing through sustainable buildings and protecting natural resources.

“We have always appreciated the support received from our partners and are thankful for strong collaborations. This is also the case of our partnership with Garanti BBVA and are pleased to announce having signed an amendment of the financing agreement to increase the loan amount to EUR 15 milion loan for the two buildings part of THE IVY Phase 1. Good partners make the difference in real estate development and not only, even more when they share the same values. We wish to thank Garanti BBVA for showing us their support and are hopeful to strengthen our collaboration even more in the future.” stated Didier Balcaen, CEO and CO-Founder Speedwell.