ARTICLES LABELLED WITH TAG development

Echo Investment has gained a loan for the construction of the MidPoint71 office building, that is being built in Wrocław on Powstańców Śląskich street. PKO Bank Polski provided the financing of the project. In accordance with the signed loan agreement, the bank granted Echo Investment €54.4 million in a construction loan, as well as a PLN 7 million VAT loan. Once the construction is finished, the construction loan will be converted to an investment loan. The total funding period ends on 30 June 2026.

Panattoni is to build an advanced hi-tech manufacturing and warehouse complex for AZZ Specialty Welding Europe, a provider of specialised welding services for customers in various business sectors, including fossil power, refining, waste-to-energy, chemical processing and nuclear power. The 12,820 sqm facility will be located in Radom. The construction project is scheduled to begin in the third quarter of 2020, while the tenant should be able to move in in March 2021.

Simultaneously with the opening of the R7 motorway section in Southern Slovakia, the Log Center R7 logistics centre project gained its building permit for its 30,000 sqm logistics hall. The project is developed by Austrian developer Go Asset.

AFI Europe Romania has finalized and completely sold phase I of AFI City, the first residential project developed by the company in Romania. The first phase consists of 190 apartments and 228 parking lots, and is located in northern Bucharest, in the Bucurestii Noi neighborhood.

The Medezin factory has started production in a 7R investment in Konstantynów Łódzki, Poland. This is the second brand that belongs to the Pelion Group, the largest healthcare company in Poland, which operates in the 7R Park Łódź West I. The storage area for Medezin was designed in the BTS formula and was adapted to the specific needs of the pharmaceutical industry.

The Romanian unit of German automotive parts supplier Continental has completed a €27 million investment in the expansion of its office building in Iași.

Law firm Kinstellar has successfully represented OTP Bank and its Bulgarian subsidiary, DSK Bank, in negotiating a €25 million loan for the construction and operation of Balkan Business Center, a major office complex in Sofia.

Romanian real estate developer One United Properties is selling part of its One Cotroceni Park urban regeneration project, currently under development in Bucharest, for €25 million. The amount raised is to be invested in the further development of the project, profit.ro reports.

Panattoni has completed the construction of a forklift assembly plant for KION Group, one of the largest providers of intralogistics solutions and warehouse technologies worldwide comprising brands like Linde, STILL and Dematic. The facility, offering more than 44,000 sqm in Kołbaskowo near Szczecin, has been delivered in compliance with the most stringent environmental protection guidelines.

The industrial real estate sector in Romania will receive a boost thanks to an agreement signed between the European Bank for Reconstruction and Development (EBRD) and Warehouses De Pauw (WDP). The EBRD will provide WDP with a €150 million senior unsecured loan to support the company’s portfolio expansion in the country.