HB Reavis has secured more than €50 million in additional financing for Varso Place in Warsaw, bringing the total refinancing package to €555 million. The increase was made possible through amendments to existing agreements with a consortium of seven banks.
"In September 2025 we increased financing for Varso to €510 million. Today we take another step, raising it to €555 million on very attractive terms. Combined with the earlier optimisation of Forest's financing, this significantly increases the flexibility of our Polish portfolio," said Patryk Zalewski, Group Senior Commercial Finance Manager at HB Reavis.
Varso Place comprises three buildings: Varso Tower, Varso 1 and Varso 2. Varso Tower, designed by Foster + Partners, stands 310 metres tall and is the tallest building in the European Union. Financing for Varso Tower is provided by PKO Bank Polski, which acted as arranger, alongside Erste Bank Polska, acting as facility agent and security agent, as well as Erste Group and Deutsche Hypo - NORD/LB. Financing for Varso 1 and Varso 2 is provided by Erste Bank Polska as facility agent, Bank Pekao as security agent, Erste Group, BNP Paribas Bank Polska, Helaba and Deutsche Hypo - NORD/LB. Law firm CMS acted as legal adviser to the banks, and Arcadis served as technical adviser.
"Finalising the €555 million refinancing of Varso Place with the bank consortium is a clear confirmation of confidence in Varso Place, the strength of the Warsaw market and HB Reavis as a long-term asset owner and manager. I thank all banking partners, advisers and internal teams for their trust and constructive approach throughout the process," said Tomas Krajcir, Group CFO at HB Reavis.
The new financing structure is part of a broader optimisation of HB Reavis's Polish portfolio, complementing changes to the financing of the Forest office campus introduced earlier in 2026. The additional funding will allow HB Reavis Investments, the group's asset management arm, to continue developing its portfolio and supporting the long-term resilience of its assets.
Varso Place is a mixed-use complex located in central Warsaw, directly adjacent to Warsaw Central station. In addition to office space, it offers a hotel, restaurants, cafés, services and publicly accessible urban areas. HB Reavis operates in the United Kingdom, Germany, Poland, Slovakia and Hungary, and has delivered nearly 1.7 million sqm of new developments, managing a current investment portfolio of more than 610,000 sqm.
