Atenor obtains €30m loan for Bucharest office project

Belgian developer Atenor Group has secured €30 mln in financing for its Hermes Business Campus office project in Bucharest, Romania.

JLL acted on behalf of Atenor Group to arrange the debt financing.

The Hermes Business Campus is an existing A Class office building combined with an office development on the same site with an area of up to 75,000 m2. It is located in Dimitrie Pompeiu near Bucharest’s new Central Business District and comprises three buildings, to be built in phases.

The first phase of the project was completed in Q1 2014 and has been 100% leased. Major tenants include Idea Bank (RIB), Lavalin, Luxoft, DB Schenker, e-Value, Xerox and the Embassy of the Kingdom of Netherlands. The second phase of the project will be delivered in Q1 2016 and has already secured lease agreements.

Piotr Piasecki, JLL’s head of corporate finance for CEE, commented: 'The purpose of the debt advisory service in CEE is to streamline the timeline for financings and to connect the investors with the lenders. JLL manage the debt arrangement and due diligence process on behalf of developers and investors, ensuring the best possible terms for our clients in terms of both flexibility and pricing.'