Futureal’s HelloParks logistics arm has signed a loan agreement worth more than €80 mln with Erste Bank to finance the construction of its megapark’s first three phases in Maglód, Hungary.
The industrial and logistics park is being developed in several phases, the next, second building is planned to be handed over in the last quarter of 2022.
Erste Bank will provide a total of €82 mln in loans to Futureal Group’s industrial real estate developer, for the realization of the first three phases of HelloParks Maglód, for a period of more than 10 years.
The first 46,000 m2 building (MG1) was handed over in January, and preparations are underway for the second 45,000 m2 hall, which is scheduled to be handed over by the last quarter of 2022. The megapark in Maglód will be realized on a 46-hectare area where the company plans to develop more than 200,000 m2 of warehouse and light industrial space.
The first building is home to companies with an international network, such as the Hungarian-owned Karzol-Trans, FoxPost, or the Lithuanian based Bútor1, with a distribution centre for 8 countries. The first 46,000 m2 phase is already operating with more than 80% occupancy and negotiations are underway for the remaining free space
'Erste Bank's more than 15 years of cooperation with the Futureal Group has reached another milestone, and we are particularly pleased that the group has chosen Erste Bank to finance its new industrial logistics business. Environmental protection and sustainability are top priorities within Erste Group and the financing of the planned investment with its BREEAM Excellent rating fits perfectly into the bank's ESG financing strategy. We are proud to be part of the latest chapter in the history of Futureal,' said György Salamon, head of Real Estate Financing, Erste Bank Hungary.
