Multi Development said that it has received a financing facility of over EUR 98 mln for the development of its Nova Karolina shopping centre in the centre of Ostrava, Czech Republic. The five-year loan was provided by a syndicate of banks comprising Ceska Sporitelna, Sob, Hypo Investmentbank and KBC Bank.
Multi Development said that it has received a financing facility of over EUR 98 mln for the development of its Nova Karolina shopping centre in the centre of Ostrava, Czech Republic. The five-year loan was provided by a syndicate of banks comprising Ceska Sporitelna, Sob, Hypo Investmentbank and KBC Bank.
Sob is the coordinating bank and security agent, while Ceska Sporitelna is the facility agent.
'The banks' interest and support confirms the exceptionality of this particular project as well as the fact that on the development market there is still room for the implementation of high-quality projects, in spite of the recent economic situation,' noted Lubos Kocí, CEO of Multi Development Czech Republic.
The Nova Carolina shopping centre is part of the larger New Karolina project, one of the largest inner-city developments in the country. The development comprises around 25,000 m2 of offices, a shopping and leisure centre with 50,000 m2, and a residential building with 200 apartments. Major tenants will include Ahold, Palace Cinemas, C&A, Intersport, Datart, Marks & Spencer and New Yorker.
