by Property Forum | Residential

Property developer Speedwell says it has fully repaid a €10.1 million loan granted by BRD Societe Generale Group for the residential component of the Record Park mixed-use project in Cluj-Napoca. 

In 2018, the company received a loan worth €22 million from BRD to finance the development of Record Park that comprises 236 apartments and 15,000 sqm of office and retail spaces  

Speedwell says the loan for the residential units was reimbursed earlier due to successful completion and sale of all apartments by the start of this year. 

The residential sector has been booming in Cluj-Napoca and the increased demand saw prices climb to the highest level of all Romanian cities. 

The company’s development portfolio includes residential, office and mixed-use investments in Bucharest, Cluj-Napoca, Timișoara and Râmnicu-Vâlcea.