ARTICLES LABELLED WITH TAG financing

On October 1, 2018, the Tokyo Stock Exchange approved a program listing application from CPI Property Group for listing on the professional-oriented Tokyo Pro-Bond Market

K&H Bank concluded a financing agreement with the developer concerning BudaPart GATE, the first office building of the largest multi-functional real estate development of Budapest. The first office building of BudaPart is a 20,092 sqm and 11-storey building with an occupancy soon reaching 40%.

Globalworth has secured a €46 million loan from BCR, which will be used for developing Connected, Renault’s new HQ in Bucharest.

Helaba, acting as facility and security agent, and pbb Deutsche Pfandbriefbank have jointly underwritten an investment facility to finance four office properties in Poland. Together, the two banks are providing Globalworth Poland Real Estate (GPRE) with a loan in an amount of €100 million with a duration of seven years. The transaction closed in June 2018. Helaba and pbb are acting as Joint Lead Arrangers providing equal portions of the funding.

From July onwards, entrepreneurs in Poland will decide whether to apply the split payment mechanism (SPM). As announced by the Polish Ministry of Finance, entities making split payments will be considered to be entrepreneurs of strong commercial integrity and business professionalism. Experts of Cresa Poland and tax specialists of Crido Taxand say whether it advisable to make use of the new regulations in their joint review “Commercial Real Estate Tax & Business Digest”.

Globalworth Real Estate Investment Limited in partnership with BT Capital Partners, a company of Banca Transilvania Financial Group, announced the second admission to trading on the Bucharest Stock Exchange (BVB) of the corporate bonds issued by the company, with a total value of €550 million.

pbb Deutsche Pfandbriefbank provided an investment facility of €74 million to companies owned by Newbridge for the acquisition of three shopping malls in Poland, namely Bielawy in Toruń, Guliwer in Łódź and Czyżyny in Kraków.

The Black Sea Trade and Development Bank (BSTDB) and Postbank (Bulgaria) will jointly provide €58.3 million (€32 million and €26.3 million, respectively) to help finance the construction of a Marriott hotel in Sofia, the first hotel of the international chain in Bulgaria. The 12-year loan will be extended to I Tower Development JSC, a special-purpose company set-up in Bulgaria. BSTDB acted as arranger of the deal. The operation aims at meeting the growing demand for high-quality business and tourist accommodation and conference facilities in the Bulgarian capital.

The EBRD and ING Romania are joining forces to finance the logistics park CTPark, situated on the A1 Bucharest-Pitesti motorway and 2 km away from the Romanian capital. The financiers have arranged a package of €96 million, of which the EBRD is providing €43.8 million and ING €52.2 million.

The number of institutional-grade products has increased progressively and we are now at a point where Romania can be competitive compared to other CEE countries with regards to building quality as well as tenant profile. Robert Miklo, Director of Investment Services at Colliers International Romania shared his thoughts.