A consortium of four banks has extended HB Reavis' long-term investment financing facility of €200 million for the Forest office campus in Warsaw. The agreement runs until the end of 2031 and was secured on terms.
The banking consortium consists of Bank Pekao (Agent Facility), PKO Bank Polski (Account Bank), Erste Bank Polska, and BNP Paribas Bank Polska (Security Agent), with CMS acting as legal advisor to the banks.
This marks another stage of cooperation between the financial institutions and HB Reavis in the development and growth of the Forest campus. The consortium originally provided €162 million in financing in 2020, which was subsequently increased to €205 million in 2022.
Forest is an office campus located on Burakowska Street in Warsaw, offering 78,000 sqm of office space alongside retail and food & beverage offerings. Designed in line with biophilic design principles, the project is considered one of Poland's office complexes in terms of workplace quality and ESG standards.
"The €200 million refinancing of Forest is a source of satisfaction for us on several levels. First, it confirms the quality and stability of the project, which today stands as a fully leased, office campus in Warsaw," said Peter Andrašina, Head of Corporate Financing at HB Reavis Group. "Forest is an example of an office development that responds to current market needs while meeting standards of construction. We are pleased that, as Bank Pekao, we continue our cooperation in financing of one of Warsaw's office projects," said Dieter Lobnig, Head of the Investment Banking and Real Estate Finance Department at Bank Pekao.
