C&R Developments s.r.o. (owned by GTC, Scorpio, RREEF and Alliance Holdings & Developments Limited S.à.r.l.), member of Lighthouse Group, signed a 96 million EUR loan agreement, for a term of 5 years, with syndicate of banks: Česká spořitelna, a.s. and Komerční banka a.s. for debt refinancing of Harfa Project. The proceeds were used for repayment of debt to Hypothekenbank AG on 2nd October 2015.
“Signing the loan agreement with Česká spořitelna, a.s. and Komerční banka a.s. at such attractive conditions proves the quality of Harfa project. Drawing a new bank loan with 5 years term, together with recent successful prolongations of the retail leases, as well as occupying the last vacant space in the office element, actually let to stabilization of the Harfa project. We expect a growth in footfall and turn over in the mid-term, which will lead for further value of the project,” said Tamir Winterstein, CEO and Partner of Lighthouse Group.
“Financing of leading real estate projects is a long term priority for Česká spořitelna. Our bank is ready to provide attractive tailor-made solutions that fit our clients’ needs. We are glad that the debt refinancing of Harfa Project provides clear evidence of such strategy,” said Martina Jůzová of Česká spořitelna.
Galerie Harfa was opened on November 11, 2010. It profiles as the new generation shopping mall from the beginning. Connection with O2 arena – one of the leading facilities in Europe – makes it very special. Galerie Harfa offers 49,000 sqm of retail, almost 160 shops on three floors. Occupancy of Galerie Harfa is 90%. Harfa Office Park is the second part of the Harfa project. It offers 20,500 sqm of quality office space in two towers of 10 floors. Harfa Office Park is in the meantime fully occupied with high reputable tenants such as ING Bank, LG Electronics, Allianz, etc.
