NREP, the Northern European real estate investor managing assets worth more than €19 bn, has secured a PLN 229 million loan (€50 mln), to finance two residential rental projects in Warsaw.
The financing is provided by the European Bank for Reconstruction and Development (EBRD), under the EBRD’s Resilience and Livelihoods Framework.
The financing has been granted to the Polish subsidiaries of NREP Nordic Strategies Fund IV. The parties have signed an agreement on the first committed tranche of PLN 63.2 mln (€13.5 mln).
The total loan amount includes an uncommitted tranche to finance future residential projects.
NREP operates in Poland's residential rental market and offers fully furnished apartments to a diverse range of tenants.
Linklaters advised NREP on the loan. The transaction was led by Maciej Checinski (senior associate) and supervised by Marta Domino (partner) from the firm's Warsaw banking and finance practice.
The wider banking and finance team included Marcin Woloszyn (associate) and Przemyslaw Sanka (junior associate). Adrian Horne (counsel) advised on English law aspects and hedging arrangements. Jedrzej Palka (managing associate) provided real estate advisory.
