Multi Development, the European shopping centre specialist which was acquired by Blackstone last year, has secured financing for the construction of its Forum Poprad shopping centre in Slovakia.
Multi Development, the European shopping centre specialist which was acquired by Blackstone last year, has secured financing for the construction of its Forum Poprad shopping centre in Slovakia.
The Netherlands-based group said it will receive bank finance for the construction of the mall from lenders VUB bank and Slovenská Sporitelna.
Multi plans to invest around €50 mln in the complex which will comprise 23,000 m2 of retail space over 100 shops on three levels and 450 parking spaces.
The mall, which is currently 50% pre-let, is expected to open in autumn 2015. Major tenants include H&M, C&A, Intersport, and A3 Sport.
Cushman & Wakefield is the exclusive leasing agent for Forum Poprad.
'Together with us, as an experienced developer, these banks are confident and fully support this exciting new development in the city,' commented Dagmar Vychodilová, finance director of Multi Development in Slovakia.
'Development in the current economic situation is not easy, but when a new scheme is a good project, occupiers are interested and our persistence in this case has paid off,' added Katarína Chadimová, leasing manager at Multi Development.