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Mennica Legacy Tower refinanced

Agnieszka Zielińska 30 January 2019
Mennica Legacy Tower refinanced
POLAND A consortium of three banks has provided a construction loan of over EUR 131 mln in to Golub Gethouse and Mennica Polska for the Mennica Legacy Tower project.
A total of 65,630 sqm of office space is under construction at the junction of ul. Prosta and ul. Żelazna in Warsaw. The three banks are MBank, Santander and Bank Ochrony Środowiska. During the negotiations the borrower was represented by Greenberg Traurig , and the banks by CMS Cameron McKenna Nabarro Olswang Pośniak i Sawicki as well as Gleeds-Polska. “The construction of Mennica started in November 2016 and it is on schedule. The signing of the loan agreement with a consortium of three banks will allow us to further finance the construction and finishing work on the project. We are pleased that the banks see the value of our project and believe in its commercial success,” says Cezary Jarząbek, the CEO of Golub GetHouse. “Our decision to grant the loan was based on the project’s excellent preparation and its commercial potential. The reputation of the investors who have been developing successful projects was also a significant factor,” claims Michał Popiołek, the managing director for global banking and investment banking at MBank. Four floors still need to be constructed before the skyscraper reaches its final height and the construction will be completed this quarter. The Budynek Zachodni building has already been handed over to its sole tenant WeWork for the fit out. Thenants that have already signed leases in the tower include Allen & Overy and Noerr Biedecki. The retail and service section will include a Meet & Eat restaurant and a Zdrofit fitness club.

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