News Article Bank Pekao financing industrial Lublin Panattoni Europe Poland warehouse
by Property Forum | Industrial

Panattoni has been granted financing for Panattoni Park Lublin II with an area of around 84,000 sqm. The €48 million loan was granted by Bank Pekao SA.

Located in the Niemce district, Panattoni Park Lublin II is a development comprising 84,000 sqm in five buildings. It will be the largest industrial park in Eastern Poland.

“The Lublin district is developing rapidly to become the driving force behind the whole of Eastern Poland. Businesses from a variety of industries are attracted by the access to qualified labour, the development of special economic zones and also the Via Carpatia international route, which is being built in the region and is to be a key transport corridor for the eastern side of the European Union. New industrial centres such as Panattoni Park Lublin II will allow the region’s potential to be tapped as they create a platform for businesses to develop. We are pleased that financial institutions such as Pekao SA. can see this potential, reaffirming the quality and the future prospects of our development,” says Karina Trojańska, Chief Financing & Operating Officer at Panattoni.

Within the park Varroc Lighting Systems, a producer of outdoor lighting and control systems that has been taken over by the Plastic Omnium Group, runs a production plant as well as its R&D department. Moreover, Stella Pack, one of the largest distributors of non-chemical cleaning and hygiene products, occupies almost 17,000 sqm.  Bank Pekao SA has seen the value of the project to the region and granted over €48 mln in financing.

“When we grant financing to develop logistic real estate, we assess its potential and look to the future. Our ambition is for the projects we support to determine the strength of the region and the market not only when they open but also in 10 or 20 years' time. Panattoni has presented just such a vision to us with its Lublin development, which right now has become a business platform attracting leading national and international companies,” says Dieter Lobnig, Head of Investment Banking and Real Estate Financing Department at Banku Pekao.

Panattoni Park Lublin II is situated in the Niemce district 8 km from the Lublin bypass near the S19 expressway and the Via Carpatia route, which is under construction and will run from north to south. The road is eventually to stretch along the entire eastern border of the European Union joining previously unlinked regions of Eastern Poland such as Białystok and Rzeszów.