German lenders Helaba, Berlin Hyp and pbb Deutsche Pfandbriefbank have joined forces to provide a €370 mln investment loan to refinance the Warsaw Spire Office complex.
The asset, which is owned by Belgian developer Ghelamco's newly established European Property Fund, consists of three buildings totalling 115,000 m2 of gross lettable area in a new district called Daszynskiego roundabout. The main tower, Warsaw Spire A, reaches a height of 220 metres and dominates the Warsaw skyline. The building was voted Best Office Complex at the 2017 MIPIM Awards in March.
Helaba, Berlin Hyp and pbb are acting as joint lead arrangers providing equal portions of the new facility, while Helaba is acting as facility and security agent of the transaction.
Last year Ghelamco signed the largest lease transaction in the Polish capital with a 21,000 m2 letting in the office tower to Samsung. Other tenants include agent JLL, BNP Paribas, investment management and pension services provider Hargreaves Lansdown and Frontex, the EU's external border control agency.
In August 2013, the Warsaw Spire also received a record bank financing in the history of the Polish real estate market – nearly PLN 904 mln (€213 mln) from four major Polish banks.
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15 September 2017
Germany Investment Briefing
Savills, London
08.00-10.30
