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Yareal granted financing for Lixa

Eurobuild CEE 09 October 2019
Yareal granted financing for Lixa
BNP Paribas has leased 22,000 sqm in the building
POLAND BNP Paribas bank has issued a loan to Yareal to finance the construction of the first building of the Lixa office complex on ul. Kasprzaka in Warsaw.

BNP Paribas is also to be the anchor tenant in the building, having also signed a pre-lease for 22,000 sqm “BNP Paribas Bank has so far financed all the Polish office projects of Yareal. I am glad that this is to continue and we are deepening our relationship,” says Marek Kowalski, the director of the real estate financing department at BNP Paribas. “We are pleased that BNP Paribas will be the bank financing the construction of the first stage of the Lixa complex, which is our flagship office project. BNP Paribas Bank has worked with Yareal group for many years. Our relations include the ongoing banking service provided to our companies, financing for land purchases and for office building construction as well as the provision of escrow accounts for our residential projects,” says Agnieszka Pyra, the CFO of Yareal Polska. Two buildings are to be built in the first stage of the project with a total of ​​28,000 sqm of office space. A ​​20,000 sqm building is also to be built in the second stage (2021) and 17,000 sqm is to be constructed in the third stage (2022). The four buildings will provide a total of 65,000 sqm.

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