€350 Million Loan For HB Reavis

HB Reavis has secured €350 million in a construction loan to develop three Varso Place buildings in the Warsaw city center. Granted by a syndicate of four banks — Santander Bank Polska, Bank Pekao S.A., Helaba and UniCredit — this is the largest construction loan in the history of the Polish real estate market. Construction of Varso Place is scheduled to finish in about two years.

Varso Place is being developed next to the Warsaw Central Station, 150 meters from the intersection of Warsaw’s main arterial roads, Aleje Jerozolimskie and Aleja Jana Pawła II. In late 2016, HB Reavis began construction of the buildings that will become home to offices, a hotel, a walkway lined with shops and restaurants, amenities such as a fitness club and a health center as well as a unique tourist attraction, a public observation deck offering a view of the city.

Read more: http://ulterier.com/350-million-loan-for-hb-reavis/