ING Real Estate Finance has provided a six-year, €185 mln refinancing facility for the Blue City shopping mall and office complex in Warsaw.
ING Real Estate Finance has provided a six-year, €185 mln refinancing facility for the Blue City shopping mall and office complex in Warsaw.
Dutch banking group ING acted as mandated lead arranger, bookrunner, hedge provider and account bank.
The facility was provided partly by ING Bank in the Netherlands and partly by Polish subsidiary, ING Bank Slaski.
Blue City is a mixed-use asset comprising 66,000 m2 of retail space and 31,000 m2 of office accommodation. The scheme also features 2,350 parking spaces.
The property is located at Jerozolimskie Avenue, the main East-West traffic artery of Warsaw, 3 km west of the CBD.
Blue City is fully leased to 200 retail and entertainment tenants and attracts over 8 million visitors per year. The property also provides significant expansion potential.
The mall is owned by private real estate investors who acquired the project in 2002.
