AFI Europe secured a €220m loan from Deutsche Pfandbriefbank, Erste Group Bank and Raiffeisen Bank to refinance AFI Palace Cotroceni. David Hay, CEO of AFI Europe Romania, said the loan process had been challenging, given size of the deal. AFI Palace Cotroceni reported an operating income of €7.3m for the first quarter of the year, up by 6.7 percent from 2013. The Bucharest mall also reported footfall was up, with an average of 55,000 visitors per day. AFI Palace Cotroceni was valued at €375m in September and is 98 percent occupied.
