Inflation across Europe is cooling down but interest rates are still at historical highs. Leading bankers and investment experts discussed at last month's CEE Property Forum 2023 in Vienna how their financing strategies were adapting.

Yareal Polska has announced the successful closing of a €45 million investment loan, with a term of 5 years, from pbb Deutsche Pfandbriefbank. The company plans to use it, among others, to refinance the LIXA C office building and for new land acquisitions.

CTP has secured €200 million in financing from the European Investment Bank (EIB) for the roll-out of its large-scale programme of solar panel installation across its European business park portfolio.

Hillwood Polska has signed credit agreements with Bank Pekao S.A. for the construction of three warehouse projects: in Częstochowa, near Rawicz, and in Łazy near Warsaw, with a combined value exceeding €89 million.

It has been a busy year for the European Commission’s corporate accountability initiatives, including updates to the EU Sustainable Finance portfolio. These policy changes, reflecting the Commission’s focus on improving the energy performance of the EU building stock, are consequential for EU real estate investors and developers.  New sustainability-linked financing models and Environmental Social and Governance (ESG) ratings standardisation complement the European Green Deal by directing financing to real estate construction and renovation that maximises energy performance. These programs enable EU real estate investors and builders to collaboratively reduce energy use and meet the EU Climate Law’s 2030 goal of reducing greenhouse gas (GHG) emissions by fifty-five percent. Strategic policy and research consultant Lisa Chase has summarised the policy framework for Property Forum.

Panattoni has secured financing for its first project in Bytom as Bank Pekao awarded an €80 million loan for the construction of Panattoni Park Bytom.

Zbigniew Korba, Partner and Attorney at Law at TaylorWessing has talked to Property Forum about sustainability-liked loans, current financing conditions and the incoming changes in the spatial planning and construction law in Poland.

Resi4Rent has announced on LinkedIn that it has secured financing worth PLN 613 million to expand its portfolio of PRS flats. The funds raised will be used to build 2,700 new units in Kraków, Wrocław, Poznań and Gdańsk. 

Monia Dobrescu, Partner at Mușat & Asociații, spoke to Property Forum about real estate companies’ growing interest in alternative financing options and Romania’s tax framework for real estate investments.

Neinver and Nuveen Real Estate have successfully raised around €170 million in debt financing for the Polish portfolio of Neptune, a joint venture between Neinver and TIAA.