Real estate owner GTC has secured a refinancing loan of up to €84 million from J&T Banka for Galeria Północna, one of its landmark retail assets in Warsaw. The five-year facility will strengthen the company’s liquidity and support the acquisition of the remaining stake in its German residential portfolio, the company announced on LinkedIn.
Opened in 2017, Galeria Północna offers 64,000 sqm of retail, service and leisure space. The shopping centre was the first in Poland to feature a rooftop garden and a brine graduation tower, alongside a varied programme of community events for different age groups.
“The refinancing of Galeria Północna highlights the trust financial institutions place in the quality of our assets and our long-term growth strategy,” GTC said.
The transaction was led by the company’s financing team, supported by its in-house legal department. Dentons advised the lender, while Greenberg Traurig Poland acted as legal advisor to GTC.
