Adgar Poland secured €75.2m in refinancing from Bank Zachodni WBK. The majority of the loan loan (€64.7m) will cover the developer’s current liabilities, while the remaining €10.5m will fuel ongoing operations. Adgar must repay €20.9m in seven years and €54.3m in 10 years. “The high amount of financing and low borrowing costs proves Adgar’s healthy performance,” Adgar wrote in a statement.
The developer recently added 14,000 sqm of offices in Warsaw’s Mokotów district to its portfolio. Adgar Wave is the company’s second scheme n Warsaw, following the completion of Adgar Park West. Adgar plans to modernization and re-commercialize its existing portfolio and is looking for new office acquisitions.
