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Temporary financing secured for Centrum Marszałkowska

11 September 2017

Temporary financing secured for Centrum Marszałkowska
The development should be completed by the spring of next year
POLAND BBI Development has raised PLN 50 mln in construction financing for its Centrum Marszałkowska project in Warsaw.

The funds were acquired as part of a non-public issue of 50,000 A-series bonds by the joint venture SPV company (jointly owned with ‘Społem’ Warszawska Spółdzielnia Spożywców) to a single institutional investor. The securities are to be repurchased with accrued interest on August 28th 2018, for which the company is obliged to take out a refinancing loan in Q4 this year. Centrum Marszałkowska will have a total area of 16,500 sqm, 3,400 sqm of which will be earmarked for retail and services. The general contractor is Doraco and CBRE is the exclusive le3asing agent. The building should be completed for April 2018.


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