A consortium of banks has participated in a financing round for mixed-use ensemble Varso Place, loaning HB Reavis a total of €475 mln for the Warsaw asset.
The consortium consisted of Santander Bank Polska, Landesbank Hessen Thüringen, Berlin Hyp, Bank Pekao and Deutsche Hypo - Nord/LB Real Estate Finance.
Located near Warsaw's main train station, Varso Place is a mixed-use ensemble with offices, a hotel, retail space and restaurants, as well as a health and fitness centre.
The complex, which covers a total of 144,000 m2, consists of three buildings: In addition to Varso 1 and Varso 2, there is an office tower designed by architectural studio Foster + Partners, the so-called Varso Tower.
At 310 metres high, it is currently the tallest building in the European Union. The tower has 53 floors and two viewing platforms. The highest garden in Warsaw is also located at 206 metres. Varso Place is BREEAM (outstanding) as well as WELL (gold) certified.
The term of the financing is five and a half years.
Beata Latoszek, head of the Warsaw representative office of Deutsche Hypo - Nord/LB Real Estate Finance, said: 'We are convinced about the success of the Varso Place project with its central location, architectural quality and consideration of ESG criteria.
'We are very pleased to be able to participate in this new urban landmark for a good five years and to further expand our market presence in Poland.'
Deutsche Hypo - NORD/LB Real Estate Finance provided €40 mln of the total financing.
