CEE property developer Trigranit has secured bank financing for its largest project in Poland - an integrated transport and retail center in the city of Poznan. The development is valued at EUR 250 mln when tenant investment is included.
CEE property developer Trigranit has secured bank financing for its largest project in Poland - an integrated transport and retail center in the city of Poznan. The development is valued at EUR 250 mln when tenant investment is included.
The 150,000 m2 new centre is to be built adjacent to the existing Polish Rail (PKP) Poznan Glówny railway station, will incorporate a new PKP railway station, PKS bus station, and a shopping centre.
The final financing documents were signed this week with a consortium of banks for a EUR 119 mln facility. The consortium comprises Bank Zachodni WBK as the facility agent, Raiffeisen Bank Polska, Nordea Bank Polska, BRE Bank and Hypo Noe. A groundbreaking ceremony has officially initiated the construction of the new shopping centre, which will integrated in the reconstructed railway station. The opening is planned for the fourth quarter of 2013.
The investment has been in preparation since 2008. Trigranit was selected by PKP in a tender from six submitted offers.
'Poland has always been our flagship destination for our property development activity. Our investment in Poland has reached around EUR 1 bn and the total completed development area is over 500,000 m2,' Trigranit CEO Árpád Török said.
'In Poznan we can utilize our experience in transforming train stations into new city centers gained at Westend City Center in Budapest and, currently in initial stages, Emonika City Center in Ljubljana. We bring our expertise and our long-term commitment to Poland, which together with PKP will create a new centre and meeting point for Poznan citizens,' he added.
