Making its debut on Poland’s real estate investment property market, Bank of China granted Capital Park a record loan of €124m to refinance Eurocentrum Office Complex. The transaction, which is the biggest ever Polish deal for the bank, will allow the developer to release equity that’s set to be reinvested, said Marcin Juszczyk, board member of Capital Park Group. “Our near-term plans involve further due diligence on potential investments, as well as establishing new dividend funds,” said Jurczyk. He added that the the company’s largest development project, the revitalization of the former Fabryka Norblina, gets underway in in the second half of 2017.
Situated in Warsaw’s CBD, at Al. Jerozolimskie street, Eurocentrum complex offers more than 85,000 sqm of space and is occupied by tenants like Unilever, Qumak, Randstad Polska, AB Foods Polska, Bilfinger Tebodin, CEPD Management (Pelion SA), Mota Engil, and Chiesi.
The world’s fourth largest bank by assets, the Bank of China entered the Polish market in 2012, targeting primarily Chinese companies, as well as major corporations operating within the country, and across CEE.
