European property developer Panattoni has been granted €48 mln in financing from Bank Pekao for the Panattoni Park Lublin II in Niemce.
The 84,000 m2 development in the Lublin region comprises of five buildings and is the largest industrial park in Eastern Poland.
Outdoor lighting and control systems producer Varroc Lighting Systems runs a production plant on site as well as its R&D department, while non-chemical cleaning and hygiene products distributor Stella Park occupies nearly 17,000 m2.
Panattoni Park Lublin II is located 8 km from the Lublin bypass near the S19 expressway and the Via Carpatia route, which is under construction and will eventually stretch along the entire eastern border of the EU.
Karina Trojanska, CFO at Panattoni, said: ‘The Lublin district is developing rapidly to become the driving force behind the whole of Eastern Poland. Businesses from a variety of industries are attracted by the access to qualified labour, the development of special economic zones and also the Via Carpatia international route, which is being built in the region and is to be a key transport corridor for the eastern side of the European Union. New industrial centres such as Panattoni Park Lublin II will allow the region’s potential to be tapped as they create a platform for businesses to develop. We are pleased that financial institutions such as Pekao SA. can see this potential, reaffirming the quality and the future prospects of our development.’
Dieter Lobnig, head of investment banking and real estate financing department at Banku Pekao, added: ‘When we grant financing to develop logistic real estate, we assess its potential and look to the future. Our ambition is for the projects we support to determine the strength of the region and the market not only when they open but also in 10 or 20 years time. Panattoni has presented just such a vision to us with its Lublin development, which right now has become a business platform attracting leading national and international companies.’
