Echo Investment has concluded a loan agreement with Nordea Bank Polska with a value of EUR 17 mln. The acquired funds will be used to refinance and finance construction costs of the Oxygen office building in Szczecin.
Echo Investment has concluded a loan agreement with Nordea Bank Polska with a value of EUR 17 mln. The acquired funds will be used to refinance and finance construction costs of the Oxygen office building in Szczecin.
The loan will be paid out in two tranches. The parties have agreed that it will be repaid by 27 March 2017.
'Nordea Bank Polska is our new financial partner, which after Westimmo has joined a large group of banks that cooperate with us. We have acquired a development loan for the office building located in Szczecin, which means that we are an attractive partner for banks despite the insecurity on the financial markets.
'The Oxygen building fulfils all requirements of an A class area. The excellent location of the facility in the very city centre, its attractive architecture and high standard of finishing have attracted reputable companies such as Nordea Bank Polska, Tieto Poland, Coloplast Shared Service and Medicover,' said Adrian Karczewicz, director from the finance department of Echo Investment, who carries out the transaction on behalf of Echo Investment.