AFI Europe signed a financing agreement totaling €32m with Banca Comerciala Romana (BCR) for AFI Park 2 and AFI Park 3 office buildings in Bucharest. The deal includes an investment loan of €17m for AFI Park 2 and a development loan of €15m for the development of AFI Park 3 office building.
“We appreciate the long and continuous cooperation with Erste Group in Romania and across the CEE, its trust in AFI Europe and the bank’s ability to deliver such financing under the challenging market conditions,” said David Hay, CEO of AFI Europe Romania. “Securing this financing will allow AFI Europe to retrieve all equity invested in AFI Park 2 which was financed by internal funds of AFI Europe and to complete AFI Park 3 which is targeted to be opened by the end of this year.”
AFI Europe completed the leasing for the first three office buildings in its AFI Park project. Telus International Europe recently signed a pre-lease on 6,000 sqm at AFI Park 3. Construction on AFI Park 45, the fourth phase project started last April. Completion is set for October 2015.
