UniCredit Bank Austria and UniCredit Bulbank have jointly underwritten a €103.3 mln senior facility to refinance Business Park Sofia (BPS), the largest office park in Southeastern Europe.

UniCredit Bank Austria and UniCredit Bulbank have jointly underwritten a €103.3 mln senior facility to refinance Business Park Sofia (BPS), the largest office park in Southeastern Europe.

The transaction closed in June 2015.

The Business Park Sofia office complex consists of 14 buildings, with a total built-up area of 187,000 m2. The scheme is fully leased to over 150 international tenants and accommodates more than 11,000 employees.

The property is owned by Arco Capital Corporation, an international finance company externally managed by Bond Street Management (BSM).

'We are very pleased to have worked with our partner to support the financing of what is the premier office park in Southeastern Europe,' said Lukasz Motyl, head of Real Estate CEE, at UniCredit Bank Austria.

Francesco Piovanetti, Chief Executive Officer of Arco Capital Corporation, added: 'The consolidation of numerous legacy facilities into one master facility, combined with the addition of a strong partner in UniCredit, further enhances BPS’s operational and financial standing.'

The facility is being jointly provided by UniCredit Bank Austria AG and UniCredit Bulbank AD as mandated lead arrangers and underwriters. UniCredit Bulbank is acting as facility and security agent, account bank, and hedge provider of this transaction.