News Yareal
Yareal Polska is delighted to announce the successful closing of a €45 million investment loan, with a term of 5 years, from pbb Deutsche Pfandbriefbank (pbb).
Recognized as a leading European commercial real estate finance specialist, this collaboration with pbb represents a significant step for Yareal's financial future.
This financing will empower Yareal to optimize its financial structure, primarily through refinancing the LIXA C office building. Additionally, it will provide the necessary capital for new land acquisitions, paving the way for Yareal's future revenue growth.
“This is a testament to our organizations' mutual trust and professionalism and the beginning of a promising long-term partnership. We share a common vision that encompasses green solutions, ESG standards, wide-ranging flexibility, and the significance of expansive green spaces in contemporary office buildings” – Nicolas Benhaim, Vice-President of Yareal Polska, and Dieter Knittel, Managing Director & Head of CEE for pbb, commented jointly on the collaboration.
The successful realization of this loan agreement was achieved through the combined dedication of both Yareal and PBB’s teams. They were further supported by financial advisors CBRE and legal counsels from Gide Loyrette Nouel and BSJP BNT Brockhuis Jurczak Prusak Sroka Nilsson Zamorska.
“We are thrilled to have secured this partnership with pbb Deutsche Pfandbriefbank, a pivotal moment for our organization. We will continue in our pursuit of optimizing our financial resources in line with our objectives” – added Marek Esz, Deputy CFO of Yareal Polska.
The LIXA C office building, boasting 20,000 sq. m. of useable area, is a significant part of the LIXA campus. Designed by the esteemed HRA studio, this property is in the heart of Warsaw's business center, the Wola district. It is just a short walk from the Rondo Daszyńskiego metro station. Presently, the building enjoys nearly 100% occupancy, generating a robust free cash flow.
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