Developer HB Reavis has been granted a 鈧�64.5 mln loan extension for its City Business Centre office complex in the centre of Bratislava.
Developer HB Reavis has been granted a 鈧�64.5 mln loan extension for its City Business Centre office complex in the centre of Bratislava.
Erste Group鈥檚 Slovak subsidiary provided 鈧�34.5 mln while SocGen's local subsidiary, Komercni Banka, granted the remaining funds. The loan is securitised against the complex of five office buildings with 38,777 m2 of rental space.
The office space is rented long term to a number of tenants including Swiss Re, Sony, AT&T, Kapsch and BWM.
'City Business Centre is a well-functioning business centre, it has a very attractive location, and is rented mostly under long-term contracts,' said Richard Wilkinson, CEO of Erste Group Immorent.
Erste Group has financed six HB Reavis projects over the past 10 years, he added.
The CBC Building Project I and II were completed in 2011 by HB Reavis and are owned by the real estate investment fund HBR CE REIF.
Luxembourg-based HB Reavis Group is active in Slovakia, Poland, Hungary, Croatia and the Czech Republic. Since its foundation in 1993, the developer has completed commercial real estate projects with a total rental space of over 600,000 m2.
